Morgan Stanley Downgrades Astera Labs (NASDAQ:ALAB) to Equal Weight

Astera Labs (NASDAQ:ALAB) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, MarketBeat reports. They currently have a $142.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 15.49% from the stock’s current price.

ALAB has been the topic of several other reports. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $100.00 to $120.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Price Performance

ALAB opened at $122.95 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a fifty day moving average price of $121.05 and a 200 day moving average price of $77.75.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate 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. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue was up 47.1% on a year-over-year basis. Research analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now owns 775,000 shares of the company’s stock, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last three months.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently modified their holdings of ALAB. Renaissance Technologies LLC acquired a new stake in Astera Labs in the 2nd quarter valued at $1,337,000. Amalgamated Bank acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $74,000. Hsbc Holdings PLC bought a new stake in shares of Astera Labs in the 2nd quarter worth about $2,990,000. Magnetar Financial LLC acquired a new stake in shares of Astera Labs during the 2nd quarter worth about $1,229,000. Finally, Marshall Wace LLP bought a new position in Astera Labs during the 2nd quarter valued at about $2,351,000. 60.47% of the stock is currently owned by institutional investors.

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.