Equities researchers at Raymond James began coverage on shares of Astera Labs (NASDAQ:ALAB - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set an "outperform" rating and a $82.00 price target on the stock. Raymond James' price objective suggests a potential upside of 19.03% from the company's current price.
A number of other brokerages have also weighed in on ALAB. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Barclays increased their target price 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, Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a "buy" rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $112.77.
View Our Latest Analysis on Astera Labs
Astera Labs Trading Down 4.4 %
NASDAQ:ALAB traded down $3.16 on Friday, hitting $68.89. The company's stock had a trading volume of 2,824,000 shares, compared to its average volume of 3,795,595. The stock has a fifty day moving average of $96.18 and a two-hundred day moving average of $88.79. The firm has a market capitalization of $11.17 billion and a P/E ratio of -39.82. Astera Labs has a one year low of $36.22 and a one year 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 (EPS) 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%. As a group, sell-side analysts anticipate that Astera Labs will post 0.34 EPS for the current year.
Insider Buying and Selling at Astera Labs
In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 570,990 shares of company stock valued at $50,242,702.
Institutional Investors Weigh In On Astera Labs
Large investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.
About Astera Labs
(
Get Free Report)
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.
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