Astera Labs (NASDAQ:ALAB) Sets New 12-Month High on Analyst Upgrade

Astera Labs, Inc. (NASDAQ:ALAB)’s share price hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $100.00 to $150.00. Stifel Nicolaus currently has a buy rating on the stock. Astera Labs traded as high as $147.39 and last traded at $146.44, with a volume of 680544 shares. The stock had previously closed at $140.93.

ALAB has been the topic of a number of other reports. Roth Mkm boosted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Northland Securities lowered shares of 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. Finally, Barclays upped their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now owns 137,000 shares of the company’s stock, valued at $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $51,178,789.20. This represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently made changes to their positions in the business. Strategic Blueprint LLC increased its position in shares of Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after acquiring an additional 284 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter worth $26,000. Finally, Venturi Wealth Management LLC increased its position in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Trading Up 1.1 %

The stock’s fifty day moving average is $109.63 and its two-hundred day moving average is $71.65.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results 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 business 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%. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Equities analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

About Astera Labs

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.