Astera Labs (NASDAQ:ALAB) Coverage Initiated by Analysts at Raymond James

Research analysts at Raymond James initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $82.00 price target on the stock. Raymond James’ target price indicates a potential upside of 13.60% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs currently has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Performance

ALAB stock opened at $72.18 on Friday. The company has a market capitalization of $11.70 billion and a P/E ratio of -41.72. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The business has a 50-day simple moving average of $97.61 and a two-hundred day simple moving average of $88.31.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts forecast that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 34,474 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 570,990 shares of company stock worth $50,242,702.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Astera Labs by 99.0% during the fourth 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 period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after purchasing an additional 237 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.