Astera Labs (NASDAQ:ALAB) Cut to Equal Weight at Morgan Stanley

Astera Labs (NASDAQ:ALAB - Get Free Report) was downgraded by equities research analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $142.00 price objective on the stock. Morgan Stanley's price objective would indicate a potential upside of 14.14% from the company's current price.

A number of other brokerages have also recently issued reports on ALAB. Needham & Company LLC reissued a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Barclays lifted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Northland Securities cut Astera Labs from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Astera Labs has a consensus rating of "Moderate Buy" and an average target price of $109.75.

Astera Labs Stock Down 6.7 %

ALAB traded down $8.89 during trading on Tuesday, reaching $124.41. 5,677,300 shares of the company's stock were exchanged, compared to its average volume of 3,511,218. The business has a 50 day moving average price of $120.38 and a 200 day moving average price of $77.29. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

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 (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company's revenue for the quarter was up 47.1% compared to the same quarter last year. On average, analysts anticipate that Astera Labs will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares of the company's stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at approximately $36,000. ORG Wealth Partners LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at approximately $42,000. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the third quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 224 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth $86,000. 60.47% of the stock is currently 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.