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

Astera Labs, Inc. (NASDAQ:ALAB) has received an average rating of “Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $71.36.

ALAB has been the subject of several recent research reports. Craig Hallum cut their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC lowered their target price on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Barclays lowered their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Wednesday, September 4th.

Astera Labs Stock Up 0.2 %

ALAB opened at $46.44 on Thursday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $95.21. The firm has a fifty day simple moving average of $44.51.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total value of $2,399,000.00. Following the completion of the sale, the chief financial officer now owns 829,108 shares in the company, valued at $39,780,601.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Philip Mazzara sold 8,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the transaction, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Truett Tate sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total value of $2,399,000.00. Following the transaction, the chief financial officer now owns 829,108 shares in the company, valued at $39,780,601.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,090 shares of company stock valued at $4,445,659.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Astera Labs during the second quarter valued at approximately $74,000. Massachusetts Financial Services Co. MA boosted its holdings in Astera Labs by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Astera Labs during the second quarter valued at approximately $207,000. Finally, Alpine Global Management LLC acquired a new stake in Astera Labs during the first quarter valued at approximately $272,000.

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.