Astera Labs (NASDAQ:ALAB) Price Target Raised to $100.00

Astera Labs (NASDAQ:ALAB) had its price objective increased by Deutsche Bank Aktiengesellschaft from $60.00 to $100.00 in a research note published on Tuesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Craig Hallum lowered their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Barclays decreased their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley raised their price target on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Stock Down 3.7 %

ALAB opened at $94.49 on Tuesday. Astera Labs has a one year low of $36.22 and a one year high of $99.84. The stock’s 50 day moving average price is $57.00 and its 200-day moving average price is $58.39.

Astera Labs (NASDAQ:ALAB) last released 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. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This represents a 0.00 % 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, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 in the last 90 days.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter worth $46,000. Allworth Financial LP grew its holdings in shares of Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter valued at $74,000. Finally, Venturi Wealth Management LLC raised its stake in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares during the last quarter.

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.