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

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average recommendation of “Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $71.36.

ALAB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC cut their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Craig Hallum reduced their price target on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Astera Labs Stock Performance

Shares of ALAB stock opened at $52.34 on Monday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $95.21. The company’s 50 day moving average price is $44.15 and its two-hundred day moving average price is $58.79.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts predict that Astera Labs will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm’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 completion of the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,791 shares of company stock valued at $12,933,588 over the last 90 days.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Amalgamated Bank acquired a new position in Astera Labs in the 2nd quarter valued at $74,000. Newbridge Financial Services Group Inc. boosted its position in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after acquiring an additional 2,980 shares during the period. Legato Capital Management LLC acquired a new position in shares of Astera Labs in the second quarter valued at about $207,000. Alpine Global Management LLC bought a new position in Astera Labs during the first quarter worth about $272,000. Finally, Strategic Blueprint LLC acquired a new stake in Astera Labs in the 2nd quarter worth about $332,000.

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.