Astera Labs (NASDAQ:ALAB) Price Target Raised to $150.00

Astera Labs (NASDAQ:ALAB) had its price objective lifted by Stifel Nicolaus from $100.00 to $150.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Craig Hallum upped 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, November 5th. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays upped their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Astera Labs Price Performance

NASDAQ ALAB opened at $130.77 on Monday. The company’s 50-day simple moving average is $113.38 and its 200 day simple moving average is $73.15. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s revenue was up 47.1% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 728,420 shares in the company, valued at $51,178,789.20. This represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 7,398 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $671,812.38. Following the completion of the transaction, the chief financial officer now owns 286,424 shares in the company, valued at $26,010,163.44. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,850,119 shares of company stock worth $178,711,939 over the last ninety days.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Bank of New York Mellon Corp acquired a new stake in Astera Labs in the second quarter worth $8,361,000. Rhumbline Advisers acquired a new stake in Astera Labs in the second quarter worth $1,009,000. Victory Capital Management Inc. acquired a new stake in Astera Labs in the second quarter worth $815,000. Ground Swell Capital LLC acquired a new stake in Astera Labs in the second quarter worth $524,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after purchasing an additional 2,343 shares during the period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.