Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Roth Mkm Analyst Says

Astera Labs (NASDAQ:ALAB - Get Free Report) had its price objective lifted by equities researchers at Roth Mkm from $80.00 to $105.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Roth Mkm's target price would suggest a potential upside of 9.48% from the stock's previous close.

A number of other equities research analysts also recently issued reports on ALAB. JPMorgan Chase & Co. boosted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Finally, Craig Hallum lifted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $92.36.

Astera Labs Stock Performance

NASDAQ ALAB traded up $26.26 during mid-day trading on Tuesday, reaching $95.91. 24,728,325 shares of the stock were exchanged, compared to its average volume of 2,888,151. The business's 50 day moving average is $55.90 and its 200-day moving average is $58.11. 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 issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company's revenue for the quarter was up 47.1% compared to the same quarter last year. On average, research analysts predict that Astera Labs will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sanjay Gajendra sold 110,000 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Sanjay Gajendra sold 110,000 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction 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 completion of the transaction, the general counsel now 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 disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in Astera Labs during the 3rd quarter worth $26,000. US Bancorp DE acquired a new stake in Astera Labs in the 3rd quarter valued at about $46,000. Allworth Financial LP grew its stake in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after acquiring an additional 891 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Astera Labs during the 2nd quarter worth 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 worth $126,000 after purchasing an additional 500 shares during the last quarter.

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.