Astera Labs (NASDAQ:ALAB) Stock Price Up 2.8% – Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price was up 2.8% on Friday . The company traded as high as $139.41 and last traded at $138.37. Approximately 782,994 shares traded hands during trading, a decline of 59% from the average daily volume of 1,916,771 shares. The stock had previously closed at $134.63.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several research reports. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Northland Capmk lowered Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley raised their target price on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Barclays increased their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Stock Performance

The business has a 50-day moving average price of $108.26 and a 200 day moving average price of $71.06.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, CFO Michael Truett Tate sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total value of $6,203,000.00. Following the completion of the sale, the chief financial officer now owns 1,762,888 shares of the company’s stock, valued at approximately $109,351,942.64. This represents a 5.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the sale, the director now directly owns 137,000 shares in the company, valued at $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,978,119 shares of company stock valued at $186,618,509 in the last 90 days.

Institutional Trading of Astera Labs

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new stake in shares of Astera Labs during the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs in the third quarter valued at approximately $49,000. Allworth Financial LP lifted its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares in the last quarter. 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.