Astera Labs (NASDAQ:ALAB) Price Target Raised to $125.00

Astera Labs (NASDAQ:ALAB) had its target price raised by Craig Hallum from $105.00 to $125.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

ALAB has been the topic of several other reports. Citigroup began coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $115.33.

Astera Labs Stock Up 0.8 %

Shares of NASDAQ ALAB opened at $88.19 on Tuesday. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The stock’s fifty day moving average price is $121.35 and its two-hundred day moving average price is $82.90.

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

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % 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 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at $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 sold 846,452 shares of company stock worth $86,427,256.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently made changes to their positions in ALAB. Vanguard Group Inc. raised its position 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 worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. raised its position 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 worth $519,506,000 after acquiring an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC raised its position 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 worth $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs during the fourth quarter worth about $229,991,000. Finally, Norges Bank bought a new position in shares of Astera Labs during the fourth quarter worth about $179,229,000. 60.47% of the stock is currently 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.