Astera Labs (NASDAQ:ALAB) Lowered to “Hold” Rating by Northland Capmk

Northland Capmk downgraded shares of Astera Labs (NASDAQ:ALAB) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $100.00 to $120.00 in a report on Thursday. Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Astera Labs has a consensus rating of “Moderate Buy” and an average target price of $101.58.

Astera Labs Trading Up 4.7 %

Shares of Astera Labs stock opened at $140.93 on Thursday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.36. The business’s 50-day moving average price is $109.63 and its 200-day moving average price is $71.59.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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 company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now owns 129,617 shares in the company, valued at $11,626,644.90. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,978,119 shares of company stock worth $186,618,509 over the last 90 days.

Institutional Trading of Astera Labs

Hedge funds have recently bought and sold shares of the stock. Strategic Blueprint LLC raised its stake in Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after buying an additional 224 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares during the period. Hollencrest Capital Management bought a new position in Astera Labs in the third quarter worth approximately $26,000. Finally, Venturi Wealth Management LLC boosted its position in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares in the last quarter. 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.