Astera Labs, Inc. (NASDAQ:ALAB) Receives $105.75 Average PT from Analysts

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $105.75.

Several brokerages have recently commented on ALAB. Barclays upped their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target on Astera Labs from $94.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Stifel Nicolaus increased 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. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th.

Astera Labs Price Performance

ALAB traded up $3.32 on Wednesday, hitting $131.77. 3,253,653 shares of the company were exchanged, compared to its average volume of 3,225,092. The firm has a fifty day simple moving average of $117.53 and a two-hundred day simple moving average of $75.25. 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 earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. The business's quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insider Transactions at Astera Labs

In other news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 11,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at $53,681,402.50. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 in the last three months.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter worth $26,000. ORG Wealth Partners LLC bought a new position in Astera Labs in the 4th quarter worth about $42,000. US Bancorp DE purchased a new stake in Astera Labs during the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs during the 3rd quarter valued at about $49,000. Finally, Allworth Financial LP raised its holdings in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during 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.