Astera Labs (NASDAQ:ALAB) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Astera Labs (NASDAQ:ALAB) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on ALAB. Deutsche Bank Aktiengesellschaft lifted their price target 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. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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. Finally, Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $107.42.

Astera Labs Price Performance

NASDAQ ALAB opened at $96.87 on Tuesday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The business’s 50-day moving average price is $122.61 and its 200 day moving average price is $79.60.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate 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. On average, equities analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction dated 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 sale, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the transaction, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 over the last quarter.

Institutional Trading of Astera Labs

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Astera Labs in the second quarter worth $1,337,000. Amalgamated Bank bought a new stake in shares of Astera Labs during the 2nd quarter worth about $74,000. Marshall Wace LLP acquired a new stake in shares of Astera Labs in the 2nd quarter worth approximately $2,351,000. Millennium Management LLC boosted its holdings in shares of Astera Labs by 136.4% in the second quarter. Millennium Management LLC now owns 278,051 shares of the company’s stock valued at $16,825,000 after acquiring an additional 160,417 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Astera Labs during the second quarter worth approximately $341,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.