Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Rating of “Buy” by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given an average rating of “Buy” by the eleven research firms that are covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $92.36.

A number of analysts have recently issued reports on ALAB shares. Evercore ISI dropped their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm lifted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday.

Astera Labs Price Performance

NASDAQ:ALAB opened at $95.91 on Friday. The business’s 50-day moving average is $55.90 and its two-hundred day moving average is $58.11. Astera Labs has a 12 month low of $36.22 and a 12 month high of $97.35.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts predict that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares in the company, valued at $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock worth $31,970,841 over the last ninety days.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter worth approximately $127,268,000. Capital World Investors acquired a new position in shares of Astera Labs during the first quarter worth approximately $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the first quarter worth approximately $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the first quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Astera Labs during the first quarter worth approximately $33,141,000.

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.