Astera Labs (NASDAQ:ALAB) Shares Up 10% - Time to Buy?

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) rose 10% during mid-day trading on Tuesday . The stock traded as high as $66.49 and last traded at $67.89. Approximately 3,293,476 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 3,794,817 shares. The stock had previously closed at $61.70.

Analyst Upgrades and Downgrades

ALAB has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $115.33.

Astera Labs Stock Up 7.1 %

The stock's fifty day moving average is $102.97 and its two-hundred day moving average is $87.93. The firm has a market capitalization of $10.71 billion and a price-to-earnings ratio of -38.18.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 7,536 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 in the last quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its position in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after purchasing an additional 3,760,765 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at approximately $229,991,000. Finally, Lord Abbett & CO. LLC grew its position in Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Company Profile

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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