Astera Labs (NASDAQ:ALAB) Downgraded by Northland Securities to Market Perform

Astera Labs (NASDAQ:ALAB) was downgraded by investment analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, Marketbeat reports. They currently have a $120.00 price objective on the stock, up from their prior price objective of $100.00. Northland Securities’ target price indicates a potential downside of 14.85% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Roth Mkm upped their price target 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. JPMorgan Chase & Co. boosted their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley increased their price objective on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus lifted their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.58.

Astera Labs Stock Up 4.7 %

Shares of ALAB opened at $140.93 on Thursday. The business’s 50-day moving average is $108.26 and its two-hundred day moving average is $71.06. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.36.

Astera Labs (NASDAQ:ALAB) last released 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 company had revenue of $113.10 million for 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 company’s quarterly revenue was up 47.1% on a year-over-year basis. On average, analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction dated 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 sale, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 6.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at $8,451,530. This represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,978,119 shares of company stock worth $186,618,509 in the last quarter.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of Astera Labs in the second quarter valued at approximately $8,361,000. Rhumbline Advisers purchased a new stake in shares of Astera Labs during the 2nd quarter worth approximately $1,009,000. Victory Capital Management Inc. acquired a new stake in Astera Labs in the second quarter valued at $815,000. Ground Swell Capital LLC purchased a new stake in shares of Astera Labs in the 2nd quarter worth about $524,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares during the last quarter. Hedge funds and other institutional investors 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.