Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Recommendation of “Buy” from Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have received a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $100.00.

Several brokerages recently weighed in on ALAB. Evercore ISI increased their price target on Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, May 21st. William Blair initiated coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an “outperform” rating for the company. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research note on Monday, May 12th. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 3,809 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $90.67, for a total value of $345,362.03. Following the completion of the transaction, the general counsel now directly owns 187,596 shares in the company, valued at approximately $17,009,329.32. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the transaction, the insider now directly owns 755,000 shares of the company’s stock, valued at $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,495,267 shares of company stock valued at $131,012,865 over the last three months.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% in 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 last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at $25,000. Hoey Investments Inc. raised its holdings in shares of Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock valued at $298,000 after buying an additional 200 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock valued at $47,000 after buying an additional 204 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Astera Labs during the 4th quarter worth about $28,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

ALAB stock opened at $89.73 on Friday. The company’s 50 day moving average price is $78.06 and its 200 day moving average price is $92.31. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of -51.87, a PEG ratio of 6.18 and a beta of 1.39. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The business had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 144.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs will post 0.34 EPS for the current fiscal year.

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.