Morgan Stanley Upgrades Astera Labs (NASDAQ:ALAB) to Overweight

Astera Labs (NASDAQ:ALAB) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm presently has a $99.00 target price on the stock. Morgan Stanley’s target price indicates a potential upside of 12.81% from the company’s previous close.

A number of other equities research analysts have also weighed in on ALAB. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC reduced their target price on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Northland Securities raised 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, January 28th. Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $99.69.

Astera Labs Stock Up 9.3%

NASDAQ ALAB opened at $87.76 on Monday. The company has a market capitalization of $14.47 billion, a P/E ratio of -50.73, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a 50-day moving average price of $65.04 and a two-hundred day moving average price of $91.76.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities analysts expect that Astera Labs will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 873,990 shares of company stock valued at $71,404,162 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its holdings in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the fourth quarter worth $25,000. Hoey Investments Inc. raised its holdings in shares of Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock valued at $47,000 after purchasing an additional 204 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at about $28,000. Institutional investors and hedge funds 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.