Astera Labs (NASDAQ:ALAB) Rating Lowered to “Market Perform” at Northland Securities

Astera Labs (NASDAQ:ALAB) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $120.00 target price on the stock. Northland Securities’ price objective would suggest a potential downside of 9.40% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Finally, Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Price Performance

Astera Labs stock opened at $132.45 on Thursday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.36. The stock has a fifty day moving average of $106.98 and a 200-day moving average of $70.62.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 25,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the completion of the transaction, the general counsel now owns 300,564 shares of the company’s stock, valued at approximately $18,256,257.36. The trade was a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,978,119 shares of company stock worth $186,618,509 over the last three months.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter worth approximately $26,000. US Bancorp DE purchased a new position in Astera Labs in the 3rd quarter worth approximately $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs in the 3rd quarter valued at approximately $49,000. 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 last quarter. Finally, Amalgamated Bank purchased a new stake in Astera Labs during the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.