Astera Labs (NASDAQ:ALAB) Price Target Raised to $110.00

Astera Labs (NASDAQ:ALAB) had its target price raised by JPMorgan Chase & Co. from $70.00 to $110.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also weighed in on ALAB. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their price target on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Roth Mkm cut their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Performance

ALAB stock opened at $94.49 on Tuesday. The stock’s 50 day moving average is $57.00 and its two-hundred day moving average is $58.39. Astera Labs has a 52-week low of $36.22 and a 52-week high of $99.84.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities research analysts predict that Astera Labs 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 that occurred 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 sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction that occurred 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 $58,007,450. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

Institutional Trading of Astera Labs

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

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.