Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Rating of “Moderate Buy” by Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has received an average rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $105.75.

Several research firms have weighed in on ALAB. 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. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup assumed coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their target price 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.

Astera Labs Trading Up 1.0 %

ALAB stock opened at $128.45 on Wednesday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a 50 day moving average of $117.53 and a 200 day moving average of $75.25.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue was up 47.1% compared to the same quarter last year. As a group, analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at $53,681,402.50. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last ninety days.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently added to or reduced their stakes in ALAB. Park Avenue Securities LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $500,000. SeaCrest Wealth Management LLC acquired a new stake in Astera Labs in the 4th quarter worth about $690,000. David J Yvars Group purchased a new stake in Astera Labs during the 4th quarter worth approximately $499,000. GSG Advisors LLC acquired a new position in shares of Astera Labs during the fourth quarter valued at approximately $1,202,000. Finally, Gunderson Capital Management Inc. purchased a new position in shares of Astera Labs in the fourth quarter valued at approximately $4,876,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

About Astera Labs

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.