Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 2,784,308 shares changed hands during mid-day trading, an increase of 5% from the previous session's volume of 2,661,276 shares.The stock last traded at $69.63 and had previously closed at $66.11.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ALAB. Evercore ISI dropped 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. Craig Hallum reduced their price target on shares of Astera Labs from $90.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their price objective on shares of Astera Labs from $85.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Astera Labs from $95.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Roth Mkm lowered their target price on Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $73.09.
Check Out Our Latest Stock Analysis on Astera Labs
Astera Labs Stock Up 0.9 %
The company's 50 day simple moving average is $45.36 and its 200 day simple moving average is $58.66.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its 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 firm had revenue of $76.90 million during the quarter, compared to analysts' expectations of $72.41 million. Astera Labs's quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.
Insider Activity
In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm's stock in a transaction dated 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 transaction, the general counsel now owns 333,474 shares of the company's stock, 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 filing with the SEC, which is available through this link. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares of the company's stock, valued at approximately $13,482,353.82. 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 the SEC website. Also, CFO Michael Truett Tate sold 100,000 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the completion of the sale, the chief financial officer now owns 1,762,888 shares of the company's stock, valued at $109,351,942.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,791 shares of company stock valued at $20,840,158.
Institutional Trading of Astera Labs
Several hedge funds have recently modified their holdings of ALAB. Vanguard Group Inc. purchased a new position in Astera Labs in the first quarter valued at about $127,268,000. Capital World Investors acquired a new stake in Astera Labs in the first quarter valued at $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs in the first quarter valued at $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the 1st quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Astera Labs in the 1st quarter worth about $33,141,000.
About Astera Labs
(
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.
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