Astera Labs (NASDAQ:ALAB) Trading 2.8% Higher – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB) was up 2.8% on Friday . The stock traded as high as $139.41 and last traded at $138.37. Approximately 782,994 shares were traded during trading, a decline of 59% from the average daily volume of 1,916,771 shares. The stock had previously closed at $134.63.

Analyst Ratings Changes

ALAB has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.58.

Astera Labs Trading Up 4.7 %

The firm has a fifty day simple moving average of $109.63 and a 200-day simple moving average of $71.62.

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, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00. Following the transaction, the general counsel now owns 300,564 shares in the company, valued at $18,256,257.36. The trade was a 7.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 11,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the sale, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,978,119 shares of company stock valued at $186,618,509 in the last ninety days.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in shares of Astera Labs in the 4th quarter worth $513,000. GAMMA Investing LLC grew its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the period. JPMorgan Chase & Co. increased its position in shares of Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after buying an additional 47,569 shares in the last quarter. Tidal Investments LLC increased its holdings in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Astera Labs during the 3rd quarter worth approximately $203,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.