Astera Labs, Inc. (NASDAQ:ALAB) Receives $115.33 Consensus Target Price from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been assigned an average recommendation of “Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $115.33.

ALAB has been the subject of several recent research reports. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th.

Astera Labs Trading Down 7.8 %

ALAB opened at $61.70 on Thursday. The company has a market cap of $10.00 billion and a P/E ratio of -35.66. The company’s 50 day moving average is $102.97 and its 200-day moving average is $87.93. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts forecast that Astera Labs will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after buying an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. boosted its position in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC grew its stake in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new stake in shares of Astera Labs during the 4th quarter valued at $229,991,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. 60.47% of the stock is owned by institutional investors.

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.