Analysts Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $115.33

Astera Labs, Inc. (NASDAQ:ALAB) has received a consensus recommendation of “Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $115.33.

A number of equities analysts recently commented on ALAB shares. Stifel Nicolaus raised their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Morgan Stanley cut their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th.

Astera Labs Price Performance

ALAB stock opened at $66.92 on Thursday. The company has a market cap of $10.85 billion and a P/E ratio of -38.68. 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 $104.47 and its 200-day moving average price is $87.44.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, analysts expect that Astera Labs will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 34,474 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $3,174,021.18. Following the sale, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 570,990 shares of company stock worth $50,242,702.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new position in Astera Labs during the fourth quarter worth $28,000. GAMMA Investing LLC boosted its stake in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after buying an additional 224 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after buying an additional 237 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.