Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price traded up 5.7% during trading on Friday . The stock traded as high as $99.34 and last traded at $102.35. 329,449 shares changed hands during trading, a decline of 93% from the average session volume of 4,716,705 shares. The stock had previously closed at $96.87.
Analysts Set New Price Targets
ALAB has been the subject of several recent research reports. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Needham & Company LLC reissued a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Roth Mkm boosted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Astera Labs currently has a consensus rating of "Buy" and a consensus price target of $107.42.
View Our Latest Analysis on ALAB
Astera Labs Stock Up 3.7 %
The stock has a fifty day simple moving average of $122.27 and a two-hundred day simple moving average of $80.67.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business's revenue was up 47.1% compared to the same quarter last year. Equities research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.
Insiders Place Their Bets
In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at $11,626,644.90. The trade was a 27.84 % 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, CFO Michael Truett Tate sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,690,452 shares of company stock worth $167,581,256.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Blueprint LLC lifted its position in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock valued at $298,000 after acquiring an additional 195 shares in the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter worth $28,000. GAMMA Investing LLC raised its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after buying an additional 224 shares during the period. CIBC Asset Management Inc lifted its holdings in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after purchasing an additional 237 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 60.47% of the company's stock.
Astera Labs Company Profile
(
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.
Featured Articles
Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
