Astera Labs (NASDAQ:ALAB) Sets New 12-Month High Following Analyst Upgrade

Astera Labs, Inc. (NASDAQ:ALAB) shares hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $100.00 to $150.00. Stifel Nicolaus currently has a buy rating on the stock. Astera Labs traded as high as $147.39 and last traded at $146.44, with a volume of 680544 shares changing hands. The stock had previously closed at $140.93.

Other research analysts also recently issued reports about the stock. Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays increased their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the sale, the director now owns 456,863 shares of the company’s stock, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,850,119 shares of company stock valued at $178,711,939 over the last 90 days.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of ALAB. Bank of New York Mellon Corp bought a new stake in Astera Labs during the second quarter worth about $8,361,000. Rhumbline Advisers bought a new stake in shares of Astera Labs during the 2nd quarter worth approximately $1,009,000. Victory Capital Management Inc. acquired a new stake in shares of Astera Labs in the 2nd quarter valued at approximately $815,000. Ground Swell Capital LLC bought a new position in shares of Astera Labs in the second quarter valued at $524,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Astera Labs by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after buying an additional 2,343 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Trading Down 7.0 %

The company’s 50-day simple moving average is $112.23 and its 200-day simple moving average is $72.74.

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, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. On average, equities analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

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.