Astera Labs (NASDAQ:ALAB) Trading 5.7% Higher – Here’s Why

Astera Labs, Inc. (NASDAQ:ALAB) was up 5.7% during trading on Friday . The company traded as high as $99.34 and last traded at $102.35. Approximately 329,449 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 4,716,705 shares. The stock had previously closed at $96.87.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALAB. Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Roth Mkm upped their price objective 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. Finally, Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $107.42.

Astera Labs Stock Up 7.8 %

The business has a fifty day moving average of $122.47 and a two-hundred day moving average of $79.72.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. Analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the sale, the director now directly owns 129,617 shares in the company, valued at $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently modified their holdings of the company. Strategic Blueprint LLC lifted its stake in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the period. GAMMA Investing LLC lifted its position in 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 buying an additional 224 shares during the period. CIBC Asset Management Inc boosted its stake in Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after buying an additional 237 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the 4th quarter valued at about $36,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 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.