Astera Labs (NASDAQ:ALAB) Price Target Raised to $94.00

Astera Labs (NASDAQ:ALAB) had its target price raised by Morgan Stanley from $74.00 to $94.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on ALAB. Barclays upped their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their target price on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $92.36.

Astera Labs Stock Down 3.7 %

ALAB opened at $94.49 on Tuesday. The company has a fifty day simple moving average of $57.00 and a 200 day simple moving average of $58.39. Astera Labs has a twelve month low of $36.22 and a twelve month high of $99.84.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALAB. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter worth $127,268,000. Capital World Investors bought a new position in shares of Astera Labs in the 1st quarter worth $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the 1st quarter worth about $44,514,000. Bamco Inc. NY bought a new stake in Astera Labs in the first quarter valued at approximately $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Astera Labs during the 1st quarter worth $33,141,000.

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.