Stifel Nicolaus Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its price target upped by Stifel Nicolaus from $80.00 to $100.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley upped their price objective on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Barclays raised their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $92.36.

Astera Labs Trading Up 5.1 %

NASDAQ ALAB opened at $99.30 on Tuesday. The business’s fifty day simple moving average is $59.05 and its 200-day simple moving average is $58.87. Astera Labs has a 52 week low of $36.22 and a 52 week high of $99.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (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 analyst estimates of $97.50 million. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 614,458 shares of company stock worth $36,455,841.

Institutional Trading of Astera Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE purchased a new position in shares of Astera Labs during the third quarter worth about $46,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs during the third quarter worth about $49,000. Allworth Financial LP increased its position in shares of Astera Labs by 445.5% during 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. Finally, Amalgamated Bank purchased a new stake in shares of Astera Labs in the 2nd quarter valued at about $74,000.

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.