Astera Labs (NASDAQ:ALAB) Upgraded at Northland Securities

Northland Securities upgraded shares of Astera Labs (NASDAQ:ALAB) from a market perform rating to an outperform rating in a report issued on Tuesday, MarketBeat Ratings reports. Northland Securities currently has $120.00 target price on the stock.

ALAB has been the subject of several other reports. Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley lowered shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price for the company. in a report on Tuesday, January 21st. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $107.42.

Astera Labs Stock Up 7.1 %

ALAB opened at $96.87 on Tuesday. The firm’s fifty day simple moving average is $122.61 and its two-hundred day simple moving average is $79.60. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Equities research analysts expect that Astera Labs will post -0.45 EPS for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 in the last 90 days.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently made changes to their positions in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs in the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth $36,000. ORG Wealth Partners LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at $42,000. US Bancorp DE purchased a new stake in shares of Astera Labs in the 3rd quarter valued at $46,000. Finally, First Horizon Advisors Inc. acquired a new position in Astera Labs during the 3rd quarter worth about $49,000. 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.