Astera Labs (NASDAQ:ALAB) Shares Up 7.8% – Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price rose 7.8% on Monday . The stock traded as high as $110.90 and last traded at $110.25. Approximately 867,126 shares traded hands during trading, a decline of 72% from the average daily volume of 3,132,753 shares. The stock had previously closed at $102.28.

Analysts Set New Price Targets

A number of research analysts recently commented on ALAB shares. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target 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, Evercore ISI lowered their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $94.67.

Astera Labs Price Performance

The stock has a fifty day simple moving average of $72.05 and a two-hundred day simple moving average of $60.30.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the transaction, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at $39,780,601.84. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,774,454 shares of company stock worth $151,560,234.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the 1st quarter worth approximately $127,268,000. Price T Rowe Associates Inc. MD purchased a new position in Astera Labs during the first quarter worth $44,514,000. Janus Henderson Group PLC purchased a new stake in shares of Astera Labs in the first quarter valued at $20,025,000. Rokos Capital Management LLP purchased a new position in Astera Labs in the 1st quarter valued at about $1,484,000. Finally, Linden Thomas Advisory Services LLC acquired a new position in shares of Astera Labs in the second quarter valued at approximately $3,187,000.

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.