Astera Labs (NASDAQ:ALAB) Shares Up 2.8% - Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price shot up 2.8% during trading on Friday . The company traded as high as $139.41 and last traded at $138.37. 782,994 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,916,771 shares. The stock had previously closed at $134.63.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALAB shares. Northland Capmk downgraded Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" 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 stock an "overweight" rating in a research report on Friday, December 20th. Craig Hallum raised their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Astera Labs currently has an average rating of "Moderate Buy" and an average price target of $101.58.

Astera Labs Trading Up 4.7 %

The business has a 50-day simple moving average of $108.26 and a two-hundred day simple moving average of $71.06.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $113.10 million for 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 analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 3,000 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now directly owns 137,000 shares of the company's stock, valued at approximately $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 25,000 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the completion of the sale, the general counsel now directly owns 300,564 shares of the company's stock, valued at $18,256,257.36. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,978,119 shares of company stock valued at $186,618,509.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new stake in shares of Astera Labs during the 4th quarter worth $513,000. GAMMA Investing LLC lifted its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after purchasing an additional 224 shares during the period. JPMorgan Chase & Co. grew its stake in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock worth $82,164,000 after buying an additional 47,569 shares in the last quarter. Tidal Investments LLC increased its holdings in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock valued at $2,373,000 after buying an additional 20,388 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Astera Labs in the 3rd quarter valued at approximately $203,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.