Astera Labs, Inc. (NASDAQ:ALAB) Receives $105.75 Average Target Price from Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $109.75.

ALAB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Morgan Stanley cut shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price on the stock. in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $124.41 on Wednesday. The firm has a 50 day moving average of $120.38 and a 200-day moving average of $77.29. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, equities research analysts predict that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Trading of Astera Labs

Large investors have recently bought and sold shares of the business. Rhumbline Advisers bought a new stake in shares of Astera Labs during the 2nd quarter valued at about $1,009,000. Victory Capital Management Inc. bought a new position in shares of Astera Labs during the 2nd quarter worth approximately $815,000. Massachusetts Financial Services Co. MA grew its position in shares of Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after buying an additional 2,343 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Astera Labs in the 2nd quarter valued at $1,337,000. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs during the 2nd quarter valued at $74,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.