Astera Labs (NASDAQ:ALAB) Raised to “Strong-Buy” at Northland Capmk

Astera Labs (NASDAQ:ALAB) was upgraded by equities researchers at Northland Capmk from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on ALAB. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Roth Mkm increased 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, November 5th. Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment 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. According to MarketBeat, Astera Labs currently has an average rating of “Buy” and an average price target of $107.42.

Astera Labs Stock Performance

Shares of ALAB opened at $90.43 on Tuesday. The business’s fifty day moving average price is $122.75 and its 200 day moving average price is $79.52. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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. 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 the consensus estimate of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. As a group, research analysts anticipate that Astera Labs will post -0.45 EPS for the current year.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares in the company, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their position. 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 institutional investors have recently added to or reduced their stakes in ALAB. FMR LLC increased its stake in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC raised its holdings in Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs in the fourth quarter worth about $229,991,000. JPMorgan Chase & Co. increased its holdings in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.