Astera Labs’ (ALAB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Astera Labs (NASDAQ:ALAB) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $140.00 price target on the stock.

ALAB has been the subject of several other research reports. Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $115.33.

Astera Labs Trading Up 0.8 %

Shares of ALAB opened at $88.19 on Tuesday. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The business’s 50-day moving average is $121.35 and its 200-day moving average is $82.90.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Sell-side analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the sale, the general counsel now owns 248,745 shares in the company, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,452 shares of company stock worth $86,427,256.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after acquiring an additional 792,153 shares during the period. 60.47% of the stock is owned by institutional investors.

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.