Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $98.67.

A number of brokerages have recently issued reports on ALAB. Morgan Stanley increased their price target on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock.

Astera Labs Trading Up 5.5 %

Astera Labs stock opened at $132.17 on Friday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $136.39. The firm has a 50 day simple moving average of $95.41 and a 200 day simple moving average of $66.41.

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

Insiders Place Their Bets

In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the sale, the director now owns 498,863 shares of the company’s stock, valued at $25,102,786.16. This represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,015,119 shares of company stock valued at $188,480,349.

Institutional Trading of Astera Labs

A number of institutional investors have recently modified their holdings of ALAB. Strategic Blueprint LLC lifted 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 buying an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Astera Labs by 5.7% during the third 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 during the period. Hollencrest Capital Management purchased a new stake in Astera Labs in the third quarter worth about $26,000. Venturi Wealth Management LLC increased its position in Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. Finally, US Bancorp DE bought a new position in shares of Astera Labs during the third quarter valued at $46,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.