Stifel Nicolaus Cuts Astera Labs (NASDAQ:ALAB) Price Target to $100.00

Astera Labs (NASDAQ:ALAB - Free Report) had its price target trimmed by Stifel Nicolaus from $150.00 to $100.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Citigroup decreased their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Astera Labs currently has an average rating of "Buy" and an average target price of $109.25.

Astera Labs Price Performance

NASDAQ ALAB traded up $0.41 on Thursday, reaching $54.83. The company had a trading volume of 1,151,503 shares, compared to its average volume of 3,791,285. The firm has a 50-day moving average of $68.57 and a 200-day moving average of $91.44. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market capitalization of $8.89 billion and a PE ratio of -31.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, sell-side analysts expect that Astera Labs will post 0.34 EPS for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Institutional Trading of Astera Labs

Large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock worth $277,000 after purchasing an additional 284 shares during the period. State Street Corp grew its stake in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company's stock valued at $36,593,000 after buying an additional 442,698 shares during the last quarter. M&T Bank Corp acquired a new position in Astera Labs during the 3rd quarter worth $322,000. Geode Capital Management LLC boosted its holdings in Astera Labs by 0.8% during the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company's stock valued at $23,312,000 after acquiring an additional 3,628 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Astera Labs in the third quarter valued at about $203,000. Institutional investors 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.