Astera Labs (NASDAQ:ALAB) Given Buy Rating at Needham & Company LLC

Astera Labs (NASDAQ:ALAB - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $140.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 59.58% from the stock's current price.

Several other analysts also recently issued reports on ALAB. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. 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 company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $115.33.

Astera Labs Price Performance

Astera Labs stock traded down $0.46 during midday trading on Tuesday, hitting $87.73. The company's stock had a trading volume of 5,261,325 shares, compared to its average volume of 5,532,401. The stock's 50-day moving average price is $120.82 and its 200-day moving average price is $82.93. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

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

Insider Activity at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of the 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 directly owns 6,148 shares of the company's stock, valued at approximately $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares of the company's stock, valued at $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Trading of Astera Labs

Large investors have recently made changes to their positions in the business. Nebula Research & Development LLC bought a new position in Astera Labs in the fourth quarter valued at about $256,000. Lord Abbett & CO. LLC boosted its holdings in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Astera Labs by 153.0% in the fourth quarter. Voya Investment Management LLC now owns 637,737 shares of the company's stock valued at $84,468,000 after acquiring an additional 385,693 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Astera Labs in the fourth quarter valued at about $67,334,000. Finally, Pinebridge Investments L.P. bought a new position in Astera Labs during the fourth quarter worth about $211,000. 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.