Analysts Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $94.67

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Twelve analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $94.67.

A number of research firms have issued reports on ALAB. Evercore ISI decreased their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley boosted their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Roth Mkm lifted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

Insider Transactions at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the transaction, the director now owns 121,803 shares in the company, valued at $13,053,627.51. This represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now owns 135,000 shares in the company, valued at $9,443,250. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,897,820 shares of company stock worth $168,252,298 over the last quarter.

Institutional Trading of Astera Labs

A number of hedge funds have recently bought and sold shares of ALAB. Strategic Blueprint LLC boosted its position in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares during the period. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the third quarter worth approximately $26,000. Venturi Wealth Management LLC grew its position in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after buying an additional 500 shares during the period. Finally, US Bancorp DE purchased a new stake in Astera Labs during the third quarter valued at approximately $46,000.

Astera Labs Trading Down 5.6 %

Shares of NASDAQ ALAB opened at $99.60 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $113.85. The company’s 50-day moving average is $74.17 and its 200 day moving average is $60.84.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, research analysts anticipate that Astera Labs will post -0.45 EPS for the current fiscal year.

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.