Astera Labs (NASDAQ:ALAB) Stock Rating Lowered by Morgan Stanley

Astera Labs (NASDAQ:ALAB) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday,Briefing.com Automated Import reports. They presently have a $142.00 target price on the stock. Morgan Stanley’s price objective suggests a potential upside of 6.53% from the company’s current price.

ALAB has been the topic of a number of other research reports. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Barclays upped their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday. Northland Capmk lowered Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Roth Mkm increased their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.75.

Astera Labs Trading Up 4.2 %

NASDAQ ALAB opened at $133.30 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a 50-day simple moving average of $119.56 and a 200 day simple moving average of $76.77.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 42,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.56, for a total value of $4,055,520.00. Following the completion of the sale, the general counsel now owns 258,564 shares of the company’s stock, valued at $24,966,939.84. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently bought and sold shares of the business. Wesbanco Bank Inc. bought a new position in Astera Labs during the 4th quarter worth $331,000. Dakota Wealth Management increased its position in shares of Astera Labs by 2.5% in the fourth quarter. Dakota Wealth Management now owns 43,110 shares of the company’s stock worth $5,710,000 after purchasing an additional 1,049 shares during the period. Trueblood Wealth Management LLC acquired a new position in Astera Labs in the fourth quarter valued at about $331,000. Mandatum Life Insurance Co Ltd acquired a new stake in Astera Labs during the fourth quarter worth about $462,000. Finally, Oak Ridge Investments LLC bought a new position in Astera Labs in the 4th quarter valued at about $284,000. 60.47% of the stock is owned by institutional investors.

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.