Stifel Nicolaus Raises Astera Labs (NASDAQ:ALAB) Price Target to $150.00

Astera Labs (NASDAQ:ALAB) had its target price upped by research analysts at Stifel Nicolaus from $100.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.28% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Craig Hallum raised their target price 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 lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.75.

Astera Labs Price Performance

Astera Labs stock opened at $133.60 on Monday. The company’s 50-day moving average price is $112.23 and its two-hundred day moving average price is $72.74. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS 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 return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue was up 47.1% on a year-over-year basis. Equities research analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,850,119 shares of company stock valued at $178,711,939 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Tidal Investments LLC grew its stake in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after buying an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astera Labs during the 3rd quarter worth about $530,000. Avior Wealth Management LLC bought a new stake in Astera Labs during the 3rd quarter valued at approximately $361,000. Maverick Capital Ltd. grew its holdings in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after buying an additional 442,698 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Company Profile

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.