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

Astera Labs, Inc. (NASDAQ:ALABGet Free Report) has earned an average rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $92.36.

Several research analysts have issued reports on the company. Evercore ISI dropped their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday.

Read Our Latest Analysis on Astera Labs

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $95.91 on Friday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $97.35. The stock’s 50 day moving average price is $55.90 and its 200 day moving average price is $58.11.

Astera Labs (NASDAQ:ALABGet Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. Research analysts forecast that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 50,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the transaction, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 in the last three months.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE purchased a new position in shares of Astera Labs during the 3rd quarter valued at $46,000. Allworth Financial LP boosted its holdings in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Amalgamated Bank bought a new stake in Astera Labs in the second quarter worth $74,000. Finally, Venturi Wealth Management LLC boosted its holdings in Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in the last quarter.

Astera Labs Company Profile

(Get Free Report

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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Analyst Recommendations for Astera Labs (NASDAQ:ALAB)

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