Astera Labs (NASDAQ:ALAB) Sets New 1-Year High Following Analyst Upgrade

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $100.00 to $150.00. Stifel Nicolaus currently has a buy rating on the stock. Astera Labs traded as high as $147.39 and last traded at $146.44, with a volume of 680544 shares trading hands. The stock had previously closed at $140.93.

A number of other analysts have also recently weighed in on the company. Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of Astera Labs from $94.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Craig Hallum upped their target price on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Northland Securities downgraded Astera Labs from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $100.00 to $120.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Astera Labs presently has an average rating of "Moderate Buy" and an average price target of $105.75.

Insider Transactions at Astera Labs

In other news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now owns 137,000 shares in the company, valued at $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Manuel Alba sold 11,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now owns 456,863 shares of the company's stock, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,978,119 shares of company stock valued at $186,618,509 in the last ninety days.

Institutional Investors Weigh In On Astera Labs

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Astera Labs during the 3rd quarter worth $26,000. GAMMA Investing LLC grew its position in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE purchased a new position in Astera Labs during the third quarter worth approximately $46,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs during the 3rd quarter worth $49,000. Finally, Allworth Financial LP boosted its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after acquiring an additional 891 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Stock Up 1.9 %

The firm's fifty day simple moving average is $111.04 and its two-hundred day simple moving average is $72.22.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its 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. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. The company's revenue for the quarter was up 47.1% on a year-over-year basis. Equities research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.