Northland Securities Downgrades Astera Labs (NASDAQ:ALAB) to Market Perform

Astera Labs (NASDAQ:ALAB) was downgraded by investment analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $120.00 price target on the stock, up from their prior price target of $100.00. Northland Securities’ price objective would indicate a potential downside of 14.85% from the stock’s previous close.

A number of other research firms have also recently commented on ALAB. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs Stock Up 4.7 %

Shares of NASDAQ ALAB opened at $140.93 on Thursday. Astera Labs has a one year low of $36.22 and a one year high of $147.36. The business’s fifty day moving average price is $108.26 and its 200-day moving average price is $71.06.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during 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 business’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction on 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 completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,978,119 shares of company stock worth $186,618,509.

Institutional Investors Weigh In On Astera Labs

Large investors have recently bought and sold shares of the business. FMR LLC lifted its stake in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after buying an additional 47,569 shares during the last quarter. Maverick Capital Ltd. raised its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $52,049,000. Institutional investors own 60.47% of the company’s stock.

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.