Astera Labs (NASDAQ:ALAB) Sets New 52-Week High – What’s Next?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $99.05 and last traded at $98.09, with a volume of 371232 shares trading hands. The stock had previously closed at $98.17.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALAB shares. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Down 1.5 %

The business has a fifty day simple moving average of $57.00 and a two-hundred day simple moving average of $58.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, equities research analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction 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 directly owns 728,420 shares in the company, valued at $51,178,789.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the firm’s 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 sale, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock valued at $31,970,841 in the last ninety days.

Hedge Funds Weigh In On Astera Labs

Large investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new stake in Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter valued at about $46,000. Allworth Financial LP raised its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the period.

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.