Astera Labs (NASDAQ:ALAB – Get Free Report) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $120.00 price objective on the stock. Northland Securities’ target price suggests a potential upside of 32.70% from the stock’s current price.
A number of other research analysts have also commented on the company. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Morgan Stanley lowered Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price target for the company. in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $107.42.
Read Our Latest Research Report on ALAB
Astera Labs Stock Up 0.9 %
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced 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. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities research analysts expect that Astera Labs will post -0.45 EPS for the current fiscal year.
Insider Buying and Selling
In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last three months.
Hedge Funds Weigh In On Astera Labs
A number of hedge funds have recently bought and sold shares of ALAB. Hollencrest Capital Management purchased a new position in Astera Labs in the third quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs in the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC purchased a new position in Astera Labs in the 4th quarter worth approximately $42,000. US Bancorp DE purchased a new stake in Astera Labs during the 3rd quarter valued at $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs during the 3rd quarter valued at $49,000. Institutional investors 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.
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