Astera Labs (NASDAQ:ALAB) Price Target Raised to $142.00 at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price target lifted by Morgan Stanley from $94.00 to $142.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on ALAB. Craig Hallum boosted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $98.67.

Astera Labs Stock Up 5.5 %

ALAB stock opened at $132.17 on Friday. The stock’s 50 day moving average price is $95.41 and its 200 day moving average price is $66.41. Astera Labs has a 1 year low of $36.22 and a 1 year high of $136.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. On average, research analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction 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 approximately $51,178,789.20. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,015,119 shares of company stock worth $188,480,349 over the last three months.

Institutional Trading of Astera Labs

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in Astera Labs during the second quarter worth $8,361,000. Legato Capital Management LLC bought a new stake in Astera Labs during the second quarter worth about $207,000. Strategic Blueprint LLC acquired a new stake in shares of Astera Labs during the second quarter worth approximately $332,000. Essex Financial Services Inc. bought a new position in shares of Astera Labs in the second quarter valued at approximately $1,304,000. Finally, Lisanti Capital Growth LLC bought a new stake in Astera Labs during the 2nd quarter worth approximately $1,822,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.