Stifel Nicolaus Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB - Get Free Report) had its price objective lifted by research analysts at Stifel Nicolaus from $100.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 4.43% from the stock's current price.

Several other equities research analysts have also commented on ALAB. Roth Mkm boosted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Craig Hallum raised their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Northland Capmk downgraded shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.75.

Astera Labs Stock Performance

ALAB stock traded up $2.71 during midday trading on Monday, reaching $143.64. The company's stock had a trading volume of 3,234,239 shares, compared to its average volume of 3,060,910. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a fifty day simple moving average of $109.63 and a two-hundred day simple moving average of $71.65.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs's revenue for the quarter was up 47.1% on a year-over-year basis. Analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,978,119 shares of company stock worth $186,618,509 over the last three months.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently modified their holdings of ALAB. Tidal Investments LLC increased its stake in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after buying an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astera Labs during the 3rd quarter worth $530,000. Avior Wealth Management LLC acquired a new position in shares of Astera Labs during the third quarter worth $361,000. Maverick Capital Ltd. increased its holdings in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter. Finally, State Street Corp raised 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 buying an additional 442,698 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Company Profile

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.