Astera Labs, Inc. (NASDAQ:ALAB) Receives $71.36 Average Target Price from Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given an average rating of “Buy” by the eleven brokerages that are covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $71.36.

ALAB has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Wednesday, September 4th. Craig Hallum lowered their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Evercore ISI lowered their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th.

Astera Labs Stock Performance

Shares of ALAB stock opened at $43.86 on Thursday. The company’s 50 day simple moving average is $44.92. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The business’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00. Following the transaction, the general counsel now owns 325,474 shares of the company’s stock, valued at $14,034,438.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Philip Mazzara sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the transaction, the general counsel now owns 325,474 shares of the company’s stock, valued at approximately $14,034,438.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the completion of the sale, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. The disclosure for this sale can be found here. Insiders sold a total of 100,090 shares of company stock valued at $4,445,659 in the last ninety days.

Institutional Trading of Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. Allspring Global Investments Holdings LLC bought a new stake in shares of Astera Labs in the first quarter valued at about $18,666,000. Value Aligned Research Advisors LLC acquired a new position in shares of Astera Labs in the first quarter valued at approximately $1,886,000. Amazon Com Inc. acquired a new stake in Astera Labs during the first quarter worth approximately $20,608,000. Capstone Investment Advisors LLC acquired a new stake in Astera Labs during the first quarter worth approximately $4,629,000. Finally, Jennison Associates LLC acquired a new stake in shares of Astera Labs in the 1st quarter valued at $11,283,000.

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.