Astera Labs, Inc. (NASDAQ:ALAB) Receives Consensus Rating of “Buy” from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has earned an average rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $92.36.

Several research analysts have issued reports on the company. Evercore ISI dropped their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $95.91 on Friday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $97.35. The stock’s 50 day moving average price is $55.90 and its 200 day moving average price is $58.11.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. Research analysts forecast that Astera Labs will post -0.54 EPS 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 business’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 transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 in the last three months.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE purchased a new position in shares of Astera Labs during the 3rd quarter valued at $46,000. Allworth Financial LP boosted its holdings in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Amalgamated Bank bought a new stake in Astera Labs in the second quarter worth $74,000. Finally, Venturi Wealth Management LLC boosted its holdings in Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in the last quarter.

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.