Astera Labs (NASDAQ:ALAB) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Astera Labs (NASDAQ:ALAB) in a research report report published on Tuesday,Benzinga reports. They currently have a $140.00 price target on the stock.

Several other research analysts have also recently commented on the stock. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Morgan Stanley cut their price target 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. Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $115.33.

Astera Labs Price Performance

Shares of ALAB opened at $92.04 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The company’s 50-day simple moving average is $122.39 and its 200-day simple moving average is $82.55.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share 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%. As a group, sell-side analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the sale, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the business’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 transaction, the director now owns 6,148 shares in the company, valued at $556,455.48. The trade was a 96.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 846,452 shares of company stock worth $86,427,256.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted 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 in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs during the 4th quarter worth $25,000. Strategic Blueprint LLC boosted its position in shares of Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after buying an additional 195 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Astera Labs in the 4th quarter valued at about $28,000. Finally, GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.