Astera Labs (NASDAQ:ALAB) Stock Rating Upgraded by Northland Securities

Astera Labs (NASDAQ:ALAB - Get Free Report) was upgraded by stock analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $120.00 target price on the stock. Northland Securities' price target would suggest a potential upside of 18.55% from the stock's current price.

ALAB has been the topic of a number of other research reports. Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Morgan Stanley downgraded shares of Astera Labs from an "overweight" rating to an "equal weight" rating and set a $142.00 target price for the company. in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Craig Hallum boosted 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $107.42.

Astera Labs Trading Up 4.5 %

NASDAQ:ALAB traded up $4.35 on Tuesday, hitting $101.22. 5,227,538 shares of the company's stock were exchanged, compared to its average volume of 4,946,270. The firm has a 50-day moving average price of $122.47 and a 200-day moving average price of $79.72. Astera Labs has a 52 week low of $36.22 and a 52 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 for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm's quarterly revenue was up 47.1% on a year-over-year basis. On average, equities analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 740,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the 3rd quarter valued at about $26,000. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth $42,000. Finally, US Bancorp DE bought a new position in Astera Labs during the third quarter worth $46,000. Institutional investors and hedge funds own 60.47% of the company's stock.

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.