Craig Hallum Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price target raised by stock analysts at Craig Hallum from $105.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 31.70% from the stock’s previous close.

A number of other brokerages also recently weighed in on ALAB. Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $115.33.

Astera Labs Price Performance

Shares of ALAB stock traded down $8.38 during trading hours on Tuesday, reaching $94.91. The company’s stock had a trading volume of 8,571,535 shares, compared to its average volume of 5,225,633. The firm’s fifty day simple moving average is $122.39 and its 200 day simple moving average is $82.55. Astera Labs has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. On average, equities research analysts anticipate that Astera Labs will post -0.45 earnings per share for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock worth $86,427,256 over the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in Astera Labs in the 2nd quarter worth $341,000. Truist Financial Corp bought a new position in shares of Astera Labs in the second quarter worth about $353,000. SG Americas Securities LLC bought a new position in shares of Astera Labs in the third quarter worth about $594,000. Renaissance Capital LLC lifted its position in shares of Astera Labs by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 23,760 shares of the company’s stock valued at $1,245,000 after buying an additional 3,967 shares in the last quarter. Finally, Seven Grand Managers LLC grew its stake in shares of Astera Labs by 25.0% during the 3rd quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock valued at $6,549,000 after acquiring an additional 25,000 shares during the period. Hedge funds and other 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.