Astera Labs, Inc. (NASDAQ:ALAB) Given Average Rating of “Buy” by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have earned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $94.67.

ALAB has been the topic of a number of research analyst reports. Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI decreased their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th.

Astera Labs Price Performance

NASDAQ:ALAB opened at $103.39 on Tuesday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $113.85. The firm has a 50 day simple moving average of $75.22 and a 200-day simple moving average of $60.88.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, 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, General Counsel Philip Mazzara sold 25,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the sale, the general counsel now directly owns 300,564 shares in the company, valued at $18,256,257.36. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,897,820 shares of company stock valued at $168,252,298 in the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the 3rd quarter worth about $26,000. US Bancorp DE acquired a new position in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs in the third quarter valued at about $49,000. Allworth Financial LP raised its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new position in Astera Labs during the 2nd quarter worth approximately $74,000.

About Astera Labs

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.