Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Astera Labs (NASDAQ:ALAB - Free Report) had its price target boosted by Morgan Stanley from $94.00 to $142.00 in a research note published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on ALAB. Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Roth Mkm raised their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $98.67.

Astera Labs Stock Up 5.5 %

Shares of ALAB stock traded up $6.89 on Friday, reaching $132.17. 11,481,598 shares of the company were exchanged, compared to its average volume of 3,334,404. Astera Labs has a 1 year low of $36.22 and a 1 year high of $136.39. The business has a 50-day moving average price of $94.10 and a 200 day moving average price of $65.93.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. Astera Labs's revenue was up 47.1% on a year-over-year basis. Equities analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 37,000 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the transaction, the director now directly owns 498,863 shares in the company, valued at $25,102,786.16. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company's stock, valued at $51,178,789.20. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,015,119 shares of company stock valued at $188,480,349 over the last 90 days.

Institutional Trading of Astera Labs

Several hedge funds have recently made changes to their positions in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE purchased a new stake in shares of Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. acquired a new stake in shares of Astera Labs in the third quarter valued at $49,000. Allworth Financial LP boosted its holdings in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank acquired a new position in Astera Labs during the 2nd quarter worth $74,000. Institutional investors and hedge funds own 60.47% of the company's stock.

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.