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

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have earned a consensus rating of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $115.33.

A number of research analysts have commented on ALAB shares. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley reduced their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Insider Activity at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 846,452 shares of company stock worth $86,427,256 in the last 90 days.

Institutional Trading of Astera Labs

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $361,000. Maverick Capital Ltd. raised its holdings in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in shares of Astera Labs in the 3rd quarter worth approximately $1,409,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $88.19 on Friday. The business’s 50-day moving average price is $121.35 and its two-hundred day moving average price is $82.90. 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, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. On average, sell-side analysts predict that Astera Labs will post -0.45 EPS for the current year.

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.