Astera Labs (NASDAQ:ALAB - Free Report) had its price target lifted by JPMorgan Chase & Co. from $70.00 to $110.00 in a report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
ALAB has been the subject of a number of other research reports. Evercore ISI lowered their price objective on Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their target price on Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Morgan Stanley boosted their price target on Astera Labs from $55.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Finally, Roth Mkm dropped their price objective on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and an average price target of $92.36.
View Our Latest Stock Report on ALAB
Astera Labs Stock Performance
ALAB traded up $26.26 during midday trading on Tuesday, reaching $95.91. 24,344,865 shares of the company's stock were exchanged, compared to its average volume of 2,885,760. The business's 50-day moving average price is $54.88 and its 200 day moving average price is $57.89. Astera Labs has a 1-year low of $36.22 and a 1-year high of $97.35.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. The business's revenue for the quarter was up 47.1% on a year-over-year basis. As a group, research analysts predict that Astera Labs will post -0.54 EPS for the current fiscal year.
Insider Buying and Selling at Astera Labs
In related news, CEO Jitendra Mohan sold 47,667 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares of the company's stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jitendra Mohan sold 47,667 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares of the company's stock, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock worth $31,970,841 over the last three months.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ALAB. Hollencrest Capital Management purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $46,000. Allworth Financial LP boosted its stake in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after purchasing an additional 891 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Astera Labs during the 2nd quarter valued at about $74,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock valued at $126,000 after purchasing an additional 500 shares in the last quarter.
Astera Labs Company Profile
(
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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.
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