Astera Labs (NASDAQ:ALAB - Get Free Report) had its price objective lifted by investment analysts at Morgan Stanley from $74.00 to $94.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's target price would indicate a potential downside of 1.99% from the stock's previous close.
Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday. Barclays lifted their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday. Craig Hallum raised their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Roth Mkm lifted 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. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has an average rating of "Buy" and an average price target of $92.36.
Check Out Our Latest Stock Report on ALAB
Astera Labs Stock Up 37.7 %
Shares of ALAB traded up $26.26 during mid-day trading on Tuesday, hitting $95.91. 24,728,325 shares of the stock were exchanged, compared to its average volume of 2,888,151. Astera Labs has a 52-week low of $36.22 and a 52-week high of $97.35. The firm has a 50-day moving average of $55.90 and a two-hundred day moving average of $58.11.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for 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. As a group, equities analysts expect that Astera Labs will post -0.54 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company's stock, valued at $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company's stock, valued at approximately $9,443,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company's stock, valued at $38,748,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 564,458 shares of company stock valued at $31,970,841.
Hedge Funds Weigh In On Astera Labs
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new stake in shares of Astera Labs in the 1st quarter valued at about $127,268,000. Capital World Investors purchased a new position in Astera Labs in the first quarter worth $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in Astera Labs in the first quarter worth $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the first quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Astera Labs during the 1st quarter valued at $33,141,000.
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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