Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Target Price at $115.33

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have earned an average rating of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $115.33.

ALAB has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th.

Astera Labs Trading Up 5.4 %

Shares of ALAB opened at $66.92 on Thursday. The firm has a market capitalization of $10.85 billion and a P/E ratio of -38.68. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a fifty day moving average price of $104.47 and a 200-day moving average price of $87.44.

Astera Labs (NASDAQ:ALAB) last issued 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 net margin of 21.05% and a negative return on equity of 10.40%. Analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at $20,157,292.26. The trade was a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in shares of 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. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in shares of Astera Labs by 78.3% in the 4th 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. Finally, CIBC Asset Management Inc raised its position in shares of Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.