Astera Labs (NASDAQ:ALAB) Price Target Cut to $114.00 by Analysts at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price target cut by stock analysts at Morgan Stanley from $142.00 to $114.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 32.16% from the stock’s current price.

A number of other brokerages also recently weighed in on ALAB. Stifel Nicolaus boosted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Astera Labs presently has an average rating of “Moderate Buy” and an average target price of $107.42.

Astera Labs Stock Performance

ALAB traded up $3.10 during trading on Tuesday, reaching $86.26. The company had a trading volume of 5,709,557 shares, compared to its average volume of 4,685,289. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39. The business’s fifty day moving average price is $122.86 and its 200 day moving average price is $79.28.

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

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. bought a new position in Astera Labs in the 4th quarter valued at approximately $1,285,000. Elemental Capital Partners LLC bought a new position in Astera Labs in the 4th quarter valued at approximately $1,346,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Astera Labs during the 4th quarter worth $159,000. Calamos Advisors LLC bought a new stake in shares of Astera Labs during the 4th quarter worth $1,693,000. Finally, Renaissance Capital LLC raised its stake in shares of Astera Labs by 381.0% during the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock worth $15,136,000 after purchasing an additional 90,516 shares during the period. Institutional investors own 60.47% of the company’s stock.

Astera Labs Company Profile

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.