Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $71.36

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven analysts that are presently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $71.36.

Several brokerages recently weighed in on ALAB. Stifel Nicolaus decreased their target price on Astera Labs from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, August 5th. Roth Mkm dropped their price target on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reduced their price objective on Astera Labs from $85.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Barclays cut their target price on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 7th.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded up $0.21 during midday trading on Monday, hitting $52.55. 2,436,022 shares of the company's stock were exchanged, compared to its average volume of 2,554,563. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21. The stock's 50 day moving average price is $44.15 and its 200-day moving average price is $58.79.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The company's revenue was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 8,000 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00. Following the transaction, the general counsel now owns 325,474 shares in the company, valued at approximately $14,034,438.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the sale, the director now owns 498,863 shares of the company's stock, valued at $25,102,786.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 8,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00. Following the completion of the sale, the general counsel now owns 325,474 shares in the company, valued at $14,034,438.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,791 shares of company stock worth $12,933,588.

Institutional Trading of Astera Labs

Large investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new stake in Astera Labs during the 1st quarter worth about $952,000. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter valued at $127,268,000. Forge First Asset Management Inc. acquired a new stake in Astera Labs in the first quarter worth about $1,143,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs during the 1st quarter worth about $44,514,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Astera Labs during the 1st quarter valued at about $18,666,000.

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.