Astera Labs’ (ALAB) “Buy” Rating Reaffirmed at Needham & Company LLC

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $140.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 60.00% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ALAB. JPMorgan Chase & Co. increased their price target 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. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $115.33.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $87.50 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The firm’s 50 day moving average price is $121.90 and its 200 day moving average price is $82.86.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. On average, equities research analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the transaction, the director now directly owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the 4th quarter valued at about $25,000. Hollencrest Capital Management bought a new stake in Astera Labs in the 3rd quarter valued at about $26,000. Steward Partners Investment Advisory LLC lifted its position in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs in the 4th quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. bought a new stake in Astera Labs in the 4th quarter valued at about $36,000. 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.