Astera Labs, Inc. (NASDAQ:ALAB) Receives $71.36 Average Target Price from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average rating of “Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $71.36.

Several research firms have recently weighed in on ALAB. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC decreased their price objective on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price for the company in a report on Wednesday, September 4th. Finally, Evercore ISI reduced their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $43.45 on Thursday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21. The business has a 50-day moving average price of $45.22.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts predict that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael Truett Tate sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the sale, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,090 shares of company stock valued at $4,445,659.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently modified their holdings of ALAB. Vanguard Group Inc. bought a new position in Astera Labs in the 1st quarter valued at $127,268,000. Capital World Investors bought a new position in Astera Labs in the 1st quarter valued at $44,514,000. Price T Rowe Associates Inc. MD bought a new position in Astera Labs in the 1st quarter valued at $44,514,000. Bamco Inc. NY bought a new position in Astera Labs in the 1st quarter valued at $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in Astera Labs in the 1st quarter valued at $33,141,000.

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.