Astera Labs (NASDAQ:ALAB) Upgraded by Northland Securities to Outperform Rating

Northland Securities upgraded shares of Astera Labs (NASDAQ:ALAB) from a market perform rating to an outperform rating in a research note published on Tuesday, MarketBeat.com reports. The brokerage currently has $120.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Astera Labs currently has a consensus rating of “Moderate Buy” and an average price target of $107.42.

Astera Labs Stock Performance

Shares of ALAB opened at $89.63 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock’s fifty day moving average price is $122.86 and its two-hundred day moving average price is $79.28.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million for 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 quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction that occurred 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 transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently added to or reduced their stakes in ALAB. Tidal Investments LLC increased its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after buying an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astera Labs in the third quarter valued at approximately $530,000. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs during the third quarter valued at approximately $361,000. Maverick Capital Ltd. grew 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 worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii purchased a new position in shares of Astera Labs in the third quarter worth $1,409,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.