Northland Securities Downgrades Astera Labs (NASDAQ:ALAB) to Market Perform

Astera Labs (NASDAQ:ALAB) was downgraded by stock analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $120.00 price objective on the stock. Northland Securities’ price objective points to a potential downside of 9.40% from the stock’s previous close.

Several other research analysts have also recently issued reports on ALAB. JPMorgan Chase & Co. raised their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.58.

Astera Labs Price Performance

ALAB opened at $132.45 on Thursday. The firm has a 50 day moving average price of $106.98 and a 200-day moving average price of $70.62. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.36.

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

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total value of $6,203,000.00. Following the sale, the chief financial officer now directly owns 1,762,888 shares in the company, valued at approximately $109,351,942.64. The trade was a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now owns 137,000 shares of the company’s stock, valued at $8,451,530. This represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Trading of Astera Labs

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Astera Labs by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after buying an additional 47,569 shares during the last quarter. Tidal Investments LLC increased its stake in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Astera Labs during the third quarter valued at approximately $203,000. Geode Capital Management LLC raised its position in Astera Labs by 0.8% during the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock valued at $23,312,000 after purchasing an additional 3,628 shares during the period. Finally, M&T Bank Corp bought a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $322,000. 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.