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

Astera Labs, Inc. (NASDAQ:ALAB) has been given an average rating of “Buy” by the sixteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $100.00.

ALAB has been the subject of several research analyst reports. Raymond James Financial started coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company. Susquehanna started coverage on shares of Astera Labs in a research report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price for the company. Evercore ISI increased their target price on shares of Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research report on Monday, May 12th. Finally, William Blair started coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They issued an “outperform” rating for the company.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $99.53 on Friday. The company has a market cap of $16.41 billion, a PE ratio of 452.43, a price-to-earnings-growth ratio of 4.36 and a beta of 1.39. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a 50 day simple moving average of $80.16 and a 200 day simple moving average of $92.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm’s quarterly revenue was up 144.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, equities analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CEO Jitendra Mohan sold 106,510 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40. Following the transaction, the chief executive officer now owns 521,008 shares in the company, valued at approximately $49,256,096.32. This trade represents a 16.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Truett Tate sold 500,000 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer now owns 618,996 shares in the company, valued at $55,852,009.08. This represents a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,601,777 shares of company stock worth $141,082,321.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC raised its holdings in Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares during the period. Peregrine Investment Management Inc. bought a new position in Astera Labs in the 4th quarter worth $10,701,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Astera Labs by 2,824.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company’s stock worth $20,467,000 after acquiring an additional 149,240 shares during the period. JPMorgan Chase & Co. raised its holdings in Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Astera Labs in the 4th quarter worth $1,285,000. Institutional investors own 60.47% of the company’s stock.

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.