Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has been given a consensus rating of "Buy" by the twelve brokerages that are covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $98.67.
Several research analysts recently issued reports on ALAB shares. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th.
Read Our Latest Report on ALAB
Insider Activity at Astera Labs
In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares of the company's stock, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,015,119 shares of company stock valued at $188,480,349 over the last ninety days.
Hedge Funds Weigh In On Astera Labs
Institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its position in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company raised its holdings in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Spyglass Capital Management LLC purchased a new position in Astera Labs in the third quarter valued at approximately $38,565,000. Finally, State Street Corp lifted its stake in Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company's stock valued at $36,593,000 after purchasing an additional 442,698 shares during the last quarter. Institutional investors own 60.47% of the company's stock.
Astera Labs Trading Up 5.5 %
Shares of Astera Labs stock opened at $132.17 on Friday. The business has a 50-day moving average price of $95.41 and a two-hundred day moving average price of $66.41. Astera Labs has a 1-year low of $36.22 and a 1-year high of $136.39.
Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs's revenue was up 47.1% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs will post -0.45 earnings per share for the current year.
About Astera Labs
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Get Free ReportAstera 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.
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