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

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $109.75.

A number of research analysts have weighed in on ALAB shares. Morgan Stanley raised their price objective on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday. Finally, Roth Mkm upped their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th.

Astera Labs Stock Up 4.2 %

Shares of Astera Labs stock opened at $133.30 on Wednesday. The business has a 50-day simple moving average of $119.56 and a 200 day simple moving average of $76.65. Astera Labs has a one year low of $36.22 and a one year high of $147.39.

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

Insider Transactions at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. The trade was a 27.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Astera Labs in the 4th quarter worth $42,000. Hollencrest Capital Management purchased a new position in Astera Labs during the 3rd quarter valued at about $26,000. GAMMA Investing LLC raised its position in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. US Bancorp DE purchased a new stake in Astera Labs in the 3rd quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs in the 3rd quarter worth approximately $49,000. 60.47% of the stock is owned by hedge funds and other 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.