Stifel Nicolaus Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its target price lifted by equities researchers at Stifel Nicolaus from $100.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 2.74% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Northland Capmk downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley lifted their target price on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Astera Labs Stock Up 3.6 %

Shares of ALAB traded up $5.07 during trading hours on Monday, reaching $146.00. 768,194 shares of the company traded hands, compared to its average volume of 2,197,917. The stock’s fifty day moving average price is $109.63 and its 200 day moving average price is $71.65. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts expect that Astera Labs will post -0.45 earnings per share for the current year.

Insider Activity

In related 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 sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs 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 transaction, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,978,119 shares of company stock worth $186,618,509.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Astera Labs in the third quarter valued at $26,000. GAMMA Investing LLC grew its position in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the last quarter. US Bancorp DE acquired a new position in Astera Labs in the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. purchased a new position in Astera Labs in the 3rd quarter valued at approximately $49,000. Finally, Allworth Financial LP increased its holdings in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.