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

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have received an average rating of "Buy" from the fourteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $112.77.

Several research firms have recently issued reports on ALAB. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on 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 sale, the general counsel now owns 191,209 shares of the company's stock, valued at $16,723,139.14. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 over the last 90 days.

Remove Ads

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after buying an additional 7,186,582 shares during the period. Alliancebernstein L.P. boosted its holdings in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after acquiring an additional 792,153 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Astera Labs by 318.9% during 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 in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Astera Labs during the fourth quarter worth approximately $229,991,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Trading Down 13.1 %

Astera Labs stock traded down $8.40 during mid-day trading on Monday, reaching $55.68. The company had a trading volume of 6,455,760 shares, compared to its average volume of 3,692,683. The business has a fifty day simple moving average of $79.74 and a 200 day simple moving average of $90.37. The company has a market cap of $9.03 billion and a P/E ratio of -32.18. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

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 the consensus estimate 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%. Research analysts forecast that Astera Labs will post 0.34 EPS 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.