Northland Capmk Downgrades Astera Labs (NASDAQ:ALAB) to Hold

Astera Labs (NASDAQ:ALAB) was downgraded by research analysts at Northland Capmk from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on ALAB. Barclays increased their target price on shares of 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 Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $100.00 to $120.00 in a report on Thursday. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs Stock Up 1.6 %

Shares of ALAB opened at $134.63 on Thursday. The company’s 50 day moving average price is $108.26 and its 200 day moving average price is $71.06. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.36.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Astera Labs will post -0.45 earnings per share for the current year.

Insider Transactions at Astera Labs

In other news, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE acquired a new stake in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs during the 3rd quarter worth about $49,000. Allworth Financial LP boosted its stake in shares of Astera Labs by 445.5% in 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, GAMMA Investing LLC lifted its holdings in Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.