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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has received an average recommendation of "Buy" from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $109.25.

A number of equities analysts have recently weighed in on ALAB shares. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus dropped their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 633,990 shares of company stock valued at $54,235,012.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Astera Labs by 0.8% in the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company's stock valued at $23,312,000 after purchasing an additional 3,628 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Astera Labs in the 3rd quarter valued at about $203,000. Tidal Investments LLC grew its holdings in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock valued at $2,373,000 after buying an additional 20,388 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock valued at $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after acquiring an additional 224 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Performance

ALAB traded down $0.03 during trading on Friday, reaching $66.08. The company's stock had a trading volume of 1,868,368 shares, compared to its average volume of 3,826,003. The company's fifty day moving average price is $66.35 and its 200-day moving average price is $91.53. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market capitalization of $10.72 billion and a price-to-earnings ratio of -38.20.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results 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%. Equities analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

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.