Stifel Nicolaus Has Lowered Expectations for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its target price dropped by investment analysts at Stifel Nicolaus from $150.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 69.61% from the company’s previous close.

Several other analysts also recently weighed in on ALAB. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target for the company. Citigroup cut their price target on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $109.25.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $58.96 on Thursday. The stock has a market capitalization of $9.56 billion and a price-to-earnings ratio of -34.08. The company has a fifty day moving average of $69.23 and a 200-day moving average of $90.85. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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 forecast that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 633,990 shares of company stock worth $54,235,012.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. increased its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. increased its stake in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares in the last quarter. Jennison Associates LLC purchased a new position in Astera Labs in the fourth quarter worth about $229,991,000. Lord Abbett & CO. LLC lifted its stake in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after buying an additional 1,384,498 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $179,229,000. Hedge funds and other 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.