Roth Mkm Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its target price boosted by Roth Mkm from $80.00 to $105.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley raised their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Craig Hallum increased their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $99.30 on Tuesday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $99.84. The firm has a 50 day moving average of $59.05 and a 200 day moving average of $58.87.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business 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% on a year-over-year basis. Analysts anticipate that Astera Labs will post -0.54 earnings per share for the current year.

Insider Activity

In related news, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the transaction, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 614,458 shares of company stock worth $36,455,841 over the last 90 days.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC purchased a new stake in shares of Astera Labs during the 1st quarter valued at about $11,283,000. Central Pacific Bank Trust Division purchased a new stake in Astera Labs during the first quarter valued at approximately $402,000. Sei Investments Co. purchased a new position in shares of Astera Labs in the 1st quarter worth approximately $952,000. Lord Abbett & CO. LLC bought a new position in shares of Astera Labs during the 1st quarter valued at approximately $33,141,000. Finally, Forge First Asset Management Inc. purchased a new stake in Astera Labs during the 1st quarter valued at $1,143,000.

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.