Astera Labs (NASDAQ:ALAB - Free Report) had its price target increased by Craig Hallum from $105.00 to $125.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.
A number of other research firms also recently issued reports on ALAB. 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 target price for the company. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Barclays lifted their price target on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Finally, 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 note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $115.33.
Read Our Latest Stock Analysis on ALAB
Astera Labs Stock Performance
Shares of NASDAQ:ALAB traded down $0.34 on Tuesday, reaching $87.85. 6,185,189 shares of the company were exchanged, compared to its average volume of 5,023,027. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a 50-day moving average of $120.17 and a 200-day moving average of $83.22.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.
Insider Transactions at Astera Labs
In other Astera Labs news, CEO Jitendra Mohan sold 173,366 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the transaction, the chief executive officer now owns 600,000 shares in the company, valued at $66,072,000. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the transaction, the director now owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,452 shares of company stock worth $86,427,256.
Institutional Investors Weigh In On Astera Labs
Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at $25,000. Strategic Blueprint LLC boosted its holdings in shares of Astera Labs by 3.6% during 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 acquired a new stake in shares of Astera Labs during the 4th quarter valued at $28,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds 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 Stories
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
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
