Astera Labs (NASDAQ:ALAB) Sets New 52-Week High After Analyst Upgrade

Astera Labs, Inc. (NASDAQ:ALAB) reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $100.00 to $150.00. Stifel Nicolaus currently has a buy rating on the stock. Astera Labs traded as high as $147.39 and last traded at $146.44, with a volume of 680544 shares traded. The stock had previously closed at $140.93.

ALAB has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $7,641,700.00. Following the completion of the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,850,119 shares of company stock valued at $178,711,939.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $26,000. GAMMA Investing LLC increased its holdings in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after buying an additional 224 shares in the last quarter. US Bancorp DE bought a new position in shares of Astera Labs in the third quarter valued at approximately $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs in the 3rd quarter worth approximately $49,000. Finally, Allworth Financial LP grew its position in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. 60.47% of the stock is owned by institutional investors.

Astera Labs Trading Down 7.0 %

The stock has a fifty day moving average of $112.23 and a two-hundred day moving average of $72.74.

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 the consensus estimate 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 had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.