Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Rating of "Buy" from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have received a consensus recommendation of "Buy" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $115.33.

Several research firms have recently commented on ALAB. Deutsche Bank Aktiengesellschaft raised their price target on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th.

Insider Activity at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 173,366 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the completion of the sale, the chief executive officer now directly owns 600,000 shares in the company, valued at $66,072,000. This trade represents a 22.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 846,452 shares of company stock worth $86,427,256 over the last three months.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter worth about $25,000. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $26,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Trading Down 0.4 %

Astera Labs stock traded down $0.34 during mid-day trading on Friday, hitting $87.85. The company's stock had a trading volume of 6,185,189 shares, compared to its average volume of 5,023,027. The stock's fifty day moving average is $120.17 and its two-hundred day moving average is $83.22. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly 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 return on equity of 15.57% and a negative net margin of 30.69%. As a group, research analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

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.