Astera Labs (NASDAQ:ALAB) Trading Up 6.2% - Time to Buy?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares rose 6.2% on Friday . The company traded as high as $75.05 and last traded at $74.67. Approximately 3,073,193 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 2,735,549 shares. The stock had previously closed at $70.30.

Analysts Set New Price Targets

ALAB has been the topic of a number of analyst reports. Roth Mkm lowered their price objective on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target 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 decreased their price target on Astera Labs from $87.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. Craig Hallum decreased their price target on Astera Labs from $90.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays decreased their price target on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $73.09.

Astera Labs Stock Up 3.4 %

The company has a fifty day simple moving average of $50.49 and a two-hundred day simple moving average of $58.07.

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

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Jitendra Mohan sold 47,667 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company's stock, valued at approximately $51,178,789.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the sale, the general counsel now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 564,458 shares of company stock worth $31,970,841.

Institutional Trading of Astera Labs

A number of institutional investors have recently added to or reduced their stakes in the business. Strategic Blueprint LLC boosted its position in Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock worth $298,000 after purchasing an additional 195 shares during the period. Allworth Financial LP boosted its position in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after purchasing an additional 891 shares during the period. Amalgamated Bank purchased a new stake in Astera Labs during the 2nd quarter worth $74,000. Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company's stock worth $5,531,000 after purchasing an additional 2,343 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its position in 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 worth $182,000 after purchasing an additional 2,980 shares during the period.

About Astera Labs

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.