Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Recommendation of "Buy" from Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have earned an average recommendation of "Buy" from the thirteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $115.33.

ALAB has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Stifel Nicolaus boosted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley cut their target price on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Finally, 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 research note on Tuesday, February 11th.

Astera Labs Trading Up 5.4 %

ALAB traded up $3.43 on Thursday, reaching $66.92. The stock had a trading volume of 5,816,103 shares, compared to its average volume of 3,790,088. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The business's 50-day moving average price is $104.47 and its two-hundred day moving average price is $87.44. The company has a market cap of $10.85 billion and a P/E ratio of -38.68.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,990 shares of company stock worth $50,242,702.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs in the 4th quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs in the 4th quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs in the 4th quarter valued at approximately $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.