Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) were up 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 Ratings Changes
ALAB has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $112.77.
Check Out Our Latest Research Report on Astera Labs
Astera Labs Stock Down 0.2 %
The business has a 50 day moving average of $97.61 and a 200 day moving average of $88.63. The company has a market capitalization of $11.68 billion and a P/E ratio of -41.65.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.
Insider Activity
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 transaction, the general counsel now owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,990 shares of company stock worth $50,242,702.
Hedge Funds Weigh In On Astera Labs
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company's stock valued at $1,231,377,000 after acquiring an additional 153,491 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Astera Labs by 2,328.5% in the fourth 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 during the last quarter. Fred Alger Management LLC increased its stake in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares in the last quarter. 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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