Astera Labs (NASDAQ:ALAB) Price Target Lowered to $114.00 at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price objective lowered by Morgan Stanley from $142.00 to $114.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs presently has an average rating of “Moderate Buy” and a consensus price target of $107.42.

Astera Labs Price Performance

ALAB opened at $89.63 on Tuesday. The firm has a 50-day simple moving average of $122.86 and a two-hundred day simple moving average of $79.28. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

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

Insider Transactions at Astera Labs

In related news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of ALAB. Fred Alger Management LLC increased its holdings in 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 buying an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new position in Astera Labs during the fourth quarter valued at approximately $229,991,000. Westfield Capital Management Co. LP purchased a new position in Astera Labs during the third quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company increased its holdings in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after buying an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC acquired a new stake in Astera Labs in the third quarter valued at approximately $38,565,000. 60.47% of the stock is owned by hedge funds and other 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.