Astera Labs (NASDAQ:ALAB) Price Target Raised to $105.00

Astera Labs (NASDAQ:ALAB) had its price objective increased by Craig Hallum from $75.00 to $105.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays lowered their price target on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley increased their target price 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. Evercore ISI decreased their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm lowered their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus reduced their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $94.49 on Tuesday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $99.84. The company has a 50-day moving average price of $57.00 and a 200 day moving average price of $58.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate 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. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. On average, research analysts forecast that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares of the company’s stock, valued at $58,007,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 110,000 shares of Astera Labs 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 sale, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. 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 over the last quarter.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth approximately $46,000. Allworth Financial LP increased its position in Astera Labs by 445.5% during 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 during the last quarter. Amalgamated Bank purchased a new position in Astera Labs during the second quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $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.