Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $123.40 and last traded at $122.03, with a volume of 4000295 shares trading hands. The stock had previously closed at $120.40.
Wall Street Analysts Forecast Growth
ALAB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $94.67.
Check Out Our Latest Stock Analysis on Astera Labs
Astera Labs Stock Down 3.2 %
The firm's fifty day simple moving average is $82.77 and its 200 day simple moving average is $62.69.
Astera Labs (NASDAQ:ALAB - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs's quarterly revenue was up 47.1% on a year-over-year basis. On average, equities research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.
Insider Activity at Astera Labs
In other news, CEO Jitendra Mohan sold 47,667 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. This represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,154,820 shares of company stock valued at $195,106,438 over the last ninety days.
Institutional Trading of Astera Labs
A number of hedge funds have recently made changes to their positions in ALAB. Strategic Blueprint LLC boosted its position in Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock worth $298,000 after buying an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Astera Labs by 5.7% in 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 valued at $277,000 after buying an additional 284 shares during the period. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter worth about $26,000. Venturi Wealth Management LLC lifted its stake in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after acquiring an additional 500 shares during the period. Finally, US Bancorp DE acquired a new position in shares of Astera Labs in the third quarter worth approximately $46,000. 60.47% of the stock is owned by institutional investors and hedge funds.
Astera Labs Company Profile
(
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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