Astera Labs (NASDAQ:ALAB - Get Free Report) was downgraded by investment analysts at Northland Securities from an "outperform" rating to a "market perform" rating in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $120.00 price target on the stock, up from their prior price target of $100.00. Northland Securities' price target points to a potential downside of 10.87% from the company's current price.
Other analysts have also recently issued reports about the stock. Stifel Nicolaus increased their target price on shares of Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price objective 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. Morgan Stanley upped their price target on Astera Labs from $94.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Finally, Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $101.58.
Get Our Latest Stock Analysis on ALAB
Astera Labs Stock Up 1.6 %
Astera Labs stock traded up $2.18 during trading hours on Thursday, hitting $134.63. The stock had a trading volume of 3,197,202 shares, compared to its average volume of 3,330,274. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.36. The stock's fifty day moving average is $108.26 and its two-hundred day moving average is $71.06.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm's quarterly revenue was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.
Insider Activity at Astera Labs
In other news, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares of the company's stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,978,119 shares of company stock valued at $186,618,509 over the last ninety days.
Institutional Investors Weigh In On Astera Labs
A number of institutional investors have recently modified their holdings of ALAB. Hollencrest Capital Management bought a new position in Astera Labs in the 3rd quarter worth approximately $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter worth approximately $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs during the third quarter valued at $49,000. Allworth Financial LP raised its position in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs during the 2nd quarter worth approximately $74,000. 60.47% of the stock is owned by hedge funds and other institutional investors.
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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