Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Recommendation of "Buy" by Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have earned a consensus recommendation of "Buy" from the eleven analysts that are currently covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $73.09.

Several analysts recently issued reports on the company. Roth Mkm decreased their target price 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. Stifel Nicolaus dropped their target price on Astera Labs from $87.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on Astera Labs from $95.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley lifted their target price on Astera Labs from $55.00 to $74.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm's stock in a transaction that occurred on 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 transaction, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Philip Mazzara sold 42,090 shares of the business's 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 transaction, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. 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. Also, CFO Michael Truett Tate sold 50,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the completion of the transaction, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,458 shares of company stock valued at $31,970,841.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in Astera Labs in the third quarter valued at approximately $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter worth about $46,000. Allworth Financial LP raised its position in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Astera Labs during the 2nd quarter valued at about $74,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Astera Labs by 11,920.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock valued at $182,000 after acquiring an additional 2,980 shares during the period.

Astera Labs Stock Performance

NASDAQ ALAB traded up $2.49 during trading on Friday, hitting $72.65. 2,326,093 shares of the company's stock traded hands, compared to its average volume of 2,733,270. The stock has a fifty day moving average of $53.73 and a two-hundred day moving average of $58.11. Astera Labs has a 12-month low of $36.22 and a 12-month high of $95.21.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released 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 company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs's quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that Astera Labs will post -0.54 EPS 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.