Susquehanna Begins Coverage on Astera Labs (NASDAQ:ALAB)

Susquehanna initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a report released on Friday, Marketbeat reports. The brokerage set a “neutral” rating and a $80.00 price target on the stock. Susquehanna’s price objective would indicate a potential downside of 11.66% from the company’s current price.

Several other equities analysts have also commented on ALAB. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Citigroup lowered their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Barclays lifted their price target on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs has an average rating of “Buy” and a consensus target price of $98.29.

Astera Labs Trading Down 1.8%

Shares of Astera Labs stock opened at $90.56 on Friday. The firm has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a P/E/G ratio of 6.18 and a beta of 0.33. The business has a fifty day simple moving average of $66.62 and a two-hundred day simple moving average of $92.13. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company’s revenue for the quarter was up 144.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 948,990 shares of company stock worth $78,221,662.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the 4th quarter valued at about $25,000. Hoey Investments Inc. grew its stake in shares of Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the period. Sound Income Strategies LLC grew its stake in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock valued at $47,000 after purchasing an additional 204 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at about $28,000. 60.47% of the stock is currently owned by 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.