Astera Labs (NASDAQ:ALAB) PT Lowered to $80.00 at Stifel Nicolaus

Astera Labs (NASDAQ:ALAB) had its target price decreased by Stifel Nicolaus from $87.00 to $80.00 in a report released on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ALAB has been the topic of a number of other research reports. Evercore ISI assumed coverage on shares of Astera Labs in a research report on Tuesday, April 16th. They set an outperform rating and a $100.00 price target on the stock. Jefferies Financial Group assumed coverage on Astera Labs in a report on Monday, April 15th. They set a buy rating and a $85.00 target price on the stock. JPMorgan Chase & Co. began coverage on Astera Labs in a research report on Monday, April 15th. They issued an overweight rating and a $85.00 target price for the company. Roth Mkm began coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 target price for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $71.36.

Astera Labs Trading Up 12.8 %

Shares of ALAB opened at $41.01 on Monday. The firm has a 50 day simple moving average of $55.83. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The business’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts expect that Astera Labs will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Astera Labs during the first quarter worth about $18,666,000. Seven Grand Managers LLC acquired a new position in Astera Labs during the 1st quarter valued at about $3,710,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $1,886,000. Amazon Com Inc. bought a new stake in shares of Astera Labs during the first quarter valued at approximately $20,608,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Astera Labs during the first quarter worth approximately $4,629,000.

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.