Astera Labs (NASDAQ:ALAB) Stock Price Up 2.8% – Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB) was up 2.8% during trading on Friday . The company traded as high as $139.41 and last traded at $138.37. Approximately 782,994 shares were traded during trading, a decline of 59% from the average daily volume of 1,916,771 shares. The stock had previously closed at $134.63.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm raised 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. 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Stock Up 4.7 %

The business has a fifty day moving average of $109.63 and a 200 day moving average of $71.62.

Astera Labs (NASDAQ:ALAB) last released its 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. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 6.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $62.03, for a total value of $6,203,000.00. Following the completion of the sale, the chief financial officer now owns 1,762,888 shares of the company’s stock, valued at $109,351,942.64. This trade represents a 5.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,978,119 shares of company stock valued at $186,618,509 in the last ninety days.

Institutional Trading of Astera Labs

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs in the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs during the third quarter valued at approximately $49,000. Allworth Financial LP raised its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.