Astera Labs (NASDAQ:ALAB) Upgraded to Outperform at Northland Securities

Astera Labs (NASDAQ:ALAB) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $120.00 target price on the stock. Northland Securities’ price target points to a potential upside of 44.30% from the stock’s current price.

A number of other analysts have also weighed in on ALAB. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley lowered shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price for the company. in a report on Tuesday, January 21st. Finally, Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Price Performance

NASDAQ:ALAB opened at $83.16 on Tuesday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a 50-day moving average price of $123.01 and a 200 day moving average price of $79.09.

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

Insiders Place Their Bets

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction 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 sale, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now owns 129,617 shares in the company, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the fourth quarter valued at $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after acquiring an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the 4th quarter worth about $42,000. 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.