Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Astera Labs (NASDAQ:ALAB) had its price objective upped by Stifel Nicolaus from $100.00 to $150.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

ALAB has been the topic of several other research reports. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays boosted their price target 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. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Astera Labs Stock Performance

ALAB stock opened at $143.64 on Monday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The stock’s 50 day moving average is $111.04 and its two-hundred day moving average is $72.22.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, equities research analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This represents a 2.14 % 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 over the last three months.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Astera Labs in the third quarter worth $26,000. US Bancorp DE acquired a new position in Astera Labs in the 3rd quarter valued at $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs in the 3rd quarter worth $49,000. Allworth Financial LP lifted its position in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 224 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.