Astera Labs (NASDAQ:ALAB) Sets New 12-Month High on Analyst Upgrade

Astera Labs, Inc. (NASDAQ:ALAB)’s share price reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $100.00 to $150.00. Stifel Nicolaus currently has a buy rating on the stock. Astera Labs traded as high as $147.39 and last traded at $146.44, with a volume of 680544 shares traded. The stock had previously closed at $140.93.

A number of other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $100.00 to $120.00 in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Moderate Buy” and an average target price of $105.75.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 300,564 shares of the company’s stock, valued at $18,256,257.36. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 110,000 shares of the firm’s 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 transaction, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALAB. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the period. GAMMA Investing LLC raised its position in shares of Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after buying an additional 284 shares during the period. Hollencrest Capital Management acquired a new stake in Astera Labs in the 3rd quarter valued at approximately $26,000. Finally, Venturi Wealth Management LLC increased its holdings in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Price Performance

The company’s fifty day moving average is $109.63 and its two-hundred day moving average is $71.65.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 47.1% on a year-over-year basis. Equities analysts expect that Astera Labs, Inc. 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.