Astera Labs, Inc. (NASDAQ:ALAB) Receives Consensus Recommendation of “Buy” from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has received an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $98.67.

A number of analysts recently commented on the company. Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays lifted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 25,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $60.74, for a total value of $1,518,500.00. Following the sale, the general counsel now directly owns 300,564 shares of the company’s stock, valued at approximately $18,256,257.36. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now owns 835,000 shares in the company, valued at $58,007,450. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,978,119 shares of company stock worth $186,618,509.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter valued at approximately $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the third quarter worth $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the third quarter worth about $49,000. Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new position in Astera Labs in the second quarter worth about $74,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $141.60 on Friday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $144.13. The stock’s fifty day simple moving average is $98.41 and its two-hundred day simple moving average is $67.54.

Astera Labs (NASDAQ:ALAB) last released its quarterly 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. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, research analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

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.