Astera Labs (NASDAQ:ALAB) Shares Up 4.7% - Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares were up 4.7% on Tuesday . The company traded as high as $94.74 and last traded at $94.64. Approximately 865,538 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,054,158 shares. The stock had previously closed at $90.38.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday. They issued a "buy" rating and a $120.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective 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. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of "Buy" and an average target price of $94.67.

Astera Labs Trading Up 5.9 %

The business has a fifty day moving average price of $64.93 and a 200 day moving average price of $59.10.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data 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 net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business's revenue was up 47.1% compared to the same quarter last year. Research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other news, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares of the company's stock, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the sale, the general counsel now owns 325,474 shares of the company's stock, valued at $14,034,438.88. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,408,458 shares of company stock valued at $113,124,841 in the last ninety days.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management bought a new position in Astera Labs during the third quarter valued at approximately $26,000. US Bancorp DE bought a new stake in Astera Labs in the 3rd quarter valued at $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs in the 3rd quarter worth $49,000. Allworth Financial LP increased its holdings 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 worth $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs during the second quarter valued at about $74,000.

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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