Astera Labs (NASDAQ:ALAB) Stock Rating Lowered by Wall Street Zen

Astera Labs (NASDAQ:ALAB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

ALAB has been the topic of a number of other research reports. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Stifel Nicolaus cut their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the company a “buy” rating in a report on Wednesday, May 7th. William Blair started coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an “outperform” rating on the stock. Finally, Needham & Company LLC cut their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Astera Labs currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Astera Labs Stock Performance

Shares of ALAB opened at $95.90 on Friday. The stock has a market cap of $15.82 billion, a PE ratio of 435.93, a price-to-earnings-growth ratio of 4.56 and a beta of 1.18. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm’s 50-day simple moving average is $90.47 and its two-hundred day simple moving average is $88.52.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business’s revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts predict that Astera Labs will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, COO Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $98.61, for a total value of $16,270,650.00. Following the sale, the chief operating officer directly owned 695,000 shares in the company, valued at approximately $68,533,950. The trade was a 19.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bethany Mayer sold 686 shares of Astera Labs stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $87.47, for a total transaction of $60,004.42. Following the completion of the sale, the director owned 6,238 shares in the company, valued at approximately $545,637.86. This represents a 9.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,965,984 shares of company stock valued at $178,631,873.

Institutional Trading of Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted 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 worth $26,000 after purchasing an additional 99 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Astera Labs during the 2nd quarter worth about $29,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Astera Labs during the 4th quarter worth about $43,000. Finally, Sound Income Strategies LLC boosted 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 worth $47,000 after purchasing an additional 204 shares during the period. 60.47% of the stock is currently owned by institutional investors.

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.