Barclays Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price objective boosted by Barclays from $70.00 to $87.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the company. Evercore ISI decreased their target price 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. Stifel Nicolaus lowered their price objective on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $92.36.

Astera Labs Trading Up 5.1 %

NASDAQ ALAB opened at $99.30 on Tuesday. The company has a fifty day moving average price of $59.05 and a 200-day moving average price of $58.87. Astera Labs has a 1 year low of $36.22 and a 1 year high of $99.84.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. Equities research analysts forecast that Astera Labs will post -0.54 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now owns 129,617 shares in the company, valued at approximately $11,626,644.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 614,458 shares of company stock worth $36,455,841 in the last three months.

Institutional Trading of Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. First Horizon Advisors Inc. purchased a new position in Astera Labs during the 3rd quarter valued at $49,000. Avior Wealth Management LLC purchased a new position in shares of Astera Labs during the third quarter valued at about $361,000. Meeder Asset Management Inc. bought a new position in Astera Labs in the third quarter worth about $1,141,000. LMR Partners LLP lifted its holdings in Astera Labs by 175.0% in the third quarter. LMR Partners LLP now owns 275,000 shares of the company’s stock worth $14,407,000 after buying an additional 175,000 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in Astera Labs during the 3rd quarter valued at approximately $237,000.

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.