Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Astera Labs (NASDAQ:ALAB) had its price objective raised by JPMorgan Chase & Co. from $70.00 to $110.00 in a report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also commented on the stock. Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley boosted their target price on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Roth Mkm cut their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. 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 note on Tuesday. Finally, Craig Hallum upped their price objective 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Up 37.7 %

NASDAQ:ALAB opened at $95.91 on Tuesday. The stock’s fifty day moving average price is $55.90 and its two-hundred day moving average price is $58.11. Astera Labs has a 52-week low of $36.22 and a 52-week high of $97.35.

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

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value 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 approximately $51,178,789.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently modified their holdings of ALAB. Jennison Associates LLC acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $11,283,000. Central Pacific Bank Trust Division bought a new stake in shares of Astera Labs during the first quarter worth $402,000. Sei Investments Co. acquired a new position in shares of Astera Labs during the first quarter worth $952,000. Lord Abbett & CO. LLC bought a new position in shares of Astera Labs in the 1st quarter valued at $33,141,000. Finally, Forge First Asset Management Inc. bought a new position in shares of Astera Labs in the 1st quarter valued at $1,143,000.

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.