Astera Labs (NASDAQ:ALAB) Trading Up 10.9% – Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price traded up 10.9% during mid-day trading on Friday . The stock traded as high as $158.39 and last traded at $158.3540. 907,401 shares traded hands during trading, a decline of 81% from the average session volume of 4,680,192 shares. The stock had previously closed at $142.82.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALAB. Barclays set a $165.00 price target on Astera Labs in a research note on Thursday, January 15th. Stifel Nicolaus increased their target price on shares of Astera Labs from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Raymond James Financial began coverage on shares of Astera Labs in a report on Friday, November 21st. They set a “hold” rating for the company. Wall Street Zen lowered shares of Astera Labs from a “buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Astera Labs in a research report on Wednesday, December 3rd. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.63.

Astera Labs Trading Up 18.9%

The company has a market cap of $28.69 billion, a price-to-earnings ratio of 153.02, a P/E/G ratio of 2.32 and a beta of 1.50. The stock’s 50-day moving average is $164.18 and its 200-day moving average is $173.36.

Insider Activity

In other news, CFO Michael Truett Tate sold 11,430 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $1,653,806.70. Following the transaction, the chief financial officer owned 192,297 shares of the company’s stock, valued at $27,823,452.93. This represents a 5.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Sanjay Gajendra sold 90,459 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total value of $13,088,512.71. Following the completion of the sale, the chief operating officer owned 1,599,750 shares of the company’s stock, valued at approximately $231,467,827.50. This represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 576,936 shares of company stock valued at $87,409,540. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in Astera Labs by 167.3% in the 1st quarter. Royal Bank of Canada now owns 152,453 shares of the company’s stock valued at $9,097,000 after purchasing an additional 95,409 shares during the period. AQR Capital Management LLC lifted its stake in shares of Astera Labs by 213.4% in the first quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock valued at $680,000 after buying an additional 7,756 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Astera Labs by 917.3% during the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after buying an additional 4,183 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Astera Labs in the 2nd quarter worth about $559,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Astera Labs in the 2nd quarter worth about $64,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Company Profile

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.