Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $109.75.

Several analysts recently weighed in on the company. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley lifted their target price on Astera Labs from $94.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Citigroup assumed coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Northland Securities downgraded shares of Astera Labs from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $100.00 to $120.00 in a report on Thursday, January 2nd.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 11,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 over the last three months.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently bought and sold shares of ALAB. Fred Alger Management LLC boosted its stake in Astera Labs by 1,361.0% during 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 in the last quarter. Westfield Capital Management Co. LP bought a new stake in Astera Labs in the 3rd quarter worth about $52,049,000. The Manufacturers Life Insurance Company grew its holdings in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after acquiring an additional 873,412 shares in the last quarter. Spyglass Capital Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $38,565,000. Finally, State Street Corp raised its position in Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company's stock worth $36,593,000 after acquiring an additional 442,698 shares during the period. Institutional investors own 60.47% of the company's stock.

Astera Labs Price Performance

ALAB traded up $5.40 during trading on Wednesday, reaching $133.30. 3,241,856 shares of the stock were exchanged, compared to its average volume of 3,784,042. The stock's 50 day moving average price is $119.56 and its two-hundred day moving average price is $76.54. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The company's quarterly revenue was up 47.1% compared to the same quarter last year. On average, research analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal 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.