Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Recommendation of “Buy” by Analysts

Astera Labs, Inc. (NASDAQ:ALAB) has been given a consensus recommendation of “Buy” by the twelve analysts that are currently covering the company, Marketbeat.com reports. Twelve investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $98.67.

A number of equities analysts recently issued reports on the company. Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Insider Transactions at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Manuel Alba sold 37,000 shares of Astera Labs stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00. Following the sale, the director now owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,015,119 shares of company stock worth $188,480,349 over the last 90 days.

Institutional Trading of Astera Labs

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC grew its position in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Astera Labs in the third quarter worth about $52,049,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after buying an additional 873,412 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $132.17 on Friday. The firm has a fifty day moving average price of $95.41 and a 200-day moving average price of $66.41. Astera Labs has a 1 year low of $36.22 and a 1 year high of $136.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue was up 47.1% on a year-over-year basis. As a group, equities analysts expect that Astera Labs will post -0.45 EPS for the current year.

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.