Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Recommendation of “Buy” from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been assigned an average rating of “Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued 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 $109.25.

A number of equities research analysts have commented on the company. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus dropped their price objective on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Morgan Stanley cut their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

Astera Labs Stock Down 0.7 %

Shares of ALAB stock opened at $65.65 on Friday. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The business has a fifty day simple moving average of $65.42 and a 200-day simple moving average of $91.34. The stock has a market cap of $10.65 billion and a P/E ratio of -37.95.

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

Insider Buying and Selling

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pacific Point Advisors LLC grew its stake in shares of Astera Labs by 75.0% in the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company’s stock valued at $418,000 after buying an additional 3,000 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Astera Labs by 119.8% in the 1st quarter. TD Private Client Wealth LLC now owns 2,455 shares of the company’s stock worth $146,000 after acquiring an additional 1,338 shares during the period. Penserra Capital Management LLC grew its position in Astera Labs by 65.5% in the first quarter. Penserra Capital Management LLC now owns 59,556 shares of the company’s stock valued at $3,553,000 after acquiring an additional 23,565 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Astera Labs by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 388,132 shares of the company’s stock valued at $23,160,000 after purchasing an additional 4,935 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Astera Labs during the first quarter worth $215,000. 60.47% of the stock is owned by hedge funds and other 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.