Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $105.75

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

A number of research analysts have recently issued reports on ALAB shares. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Craig Hallum lifted 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. Northland Capmk downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Morgan Stanley cut Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price on the stock. in a research report 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 report on Tuesday, November 5th.

Insider Buying and Selling

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Trading of Astera Labs

Hedge funds have recently made changes to their positions in the company. Strategic Blueprint LLC increased its holdings in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the fourth quarter valued at approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 valued at $277,000 after buying an additional 284 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Astera Labs in the 4th quarter worth approximately $42,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Trading Down 6.7 %

Shares of NASDAQ:ALAB opened at $124.41 on Wednesday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The business’s 50 day simple moving average is $120.38 and its two-hundred day simple moving average is $77.29.

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

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.