Northland Capmk upgraded shares of Astera Labs (NASDAQ:ALAB – Free Report) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.
ALAB has been the subject of a number of other reports. Barclays raised their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Craig Hallum boosted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm increased their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $107.42.
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Astera Labs Price Performance
Astera Labs (NASDAQ:ALAB – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s quarterly revenue was up 47.1% on a year-over-year basis. Equities research analysts predict that Astera Labs will post -0.45 EPS for the current year.
Insider Buying and Selling
In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 1,690,452 shares of company stock valued at $167,581,256.
Institutional Trading of Astera Labs
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $229,991,000. JPMorgan Chase & Co. raised its stake in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. boosted its holdings in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Hedge funds and other 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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