Citigroup Issues Pessimistic Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its price target dropped by analysts at Citigroup from $120.00 to $100.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 66.44% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $113.42.

Astera Labs Stock Up 1.1 %

NASDAQ:ALAB opened at $60.08 on Monday. The stock has a market cap of $9.74 billion and a P/E ratio of -34.73. The business’s 50-day moving average price is $71.63 and its two-hundred day moving average price is $90.96. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities research analysts expect that Astera Labs will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. Tidal Investments LLC increased its holdings in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after purchasing an additional 390 shares in the last quarter. State Street Corp raised its holdings in Astera Labs by 173.1% in 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. Peregrine Investment Management Inc. bought a new position in shares of Astera Labs in the fourth quarter worth approximately $10,701,000. Finally, Elemental Capital Partners LLC purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $1,346,000. Institutional investors own 60.47% of the company’s stock.

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.