Astera Labs (NASDAQ:ALAB) Price Target Raised to $135.00

Astera Labs (NASDAQ:ALAB) had its target price boosted by Barclays from $87.00 to $135.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped 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. Finally, Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Astera Labs Stock Performance

ALAB opened at $133.30 on Friday. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The firm’s 50-day moving average price is $119.56 and its 200 day moving average price is $76.65.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other news, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its position in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astera Labs during the 3rd quarter worth $530,000. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs in the third quarter valued at about $361,000. Maverick Capital Ltd. boosted its holdings in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after acquiring an additional 442,698 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.