Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $133.75 and last traded at $133.75, with a volume of 22325 shares. The stock had previously closed at $132.14.
Analyst Ratings Changes
A number of brokerages have issued reports on ALAB. Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Roth Mkm upped 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. Barclays raised their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has an average rating of "Buy" and a consensus target price of $94.67.
Check Out Our Latest Stock Report on ALAB
Astera Labs Trading Down 1.3 %
The company has a fifty day moving average price of $90.19 and a 200 day moving average price of $64.67.
Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs's quarterly revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.
Insider Buying and Selling at Astera Labs
In related news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction dated 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 sale, the director now directly owns 456,863 shares in the company, valued at $53,681,402.50. The trade was a 2.35 % 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. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 1,412,888 shares of the company's stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,154,820 shares of company stock valued at $195,106,438 in the last ninety days.
Institutional Trading of Astera Labs
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter valued at $26,000. US Bancorp DE bought a new stake in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs in the 3rd quarter valued at about $49,000. 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 purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter worth approximately $74,000. 60.47% of the stock is currently owned by 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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