Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Rating of “Buy” from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average rating of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $112.77.

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th.

Astera Labs Stock Performance

Shares of ALAB opened at $60.78 on Monday. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a 50-day simple moving average of $85.00 and a 200-day simple moving average of $90.54. The company has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities research analysts forecast that Astera Labs will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. The trade was a 34.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC lifted its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its stake in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.