Roth Mkm Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price target lifted by equities research analysts at Roth Mkm from $80.00 to $105.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 6.96% from the company’s current price.

Other analysts have also issued research reports about the stock. Barclays raised their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Trading Up 2.4 %

ALAB stock opened at $98.17 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $98.68. The company’s 50 day simple moving average is $57.00 and its 200-day simple moving average is $58.39.

Astera Labs (NASDAQ:ALAB) last announced 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 firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts predict that Astera Labs will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total value of $2,399,000.00. Following the completion of the transaction, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock valued at $31,970,841 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the period. Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter valued at about $74,000. Finally, Venturi Wealth Management LLC lifted its position in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares during the last quarter.

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.