Astera Labs, Inc. (NASDAQ:ALAB) Given Average Rating of “Buy” by Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average rating of “Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $109.25.

A number of brokerages have issued reports on ALAB. Morgan Stanley cut their target price 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. Stifel Nicolaus reduced their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Craig Hallum increased their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Finally, Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th.

Astera Labs Price Performance

NASDAQ ALAB opened at $64.55 on Friday. The business has a 50 day moving average price of $66.90 and a 200 day moving average price of $91.05. The company has a market capitalization of $10.47 billion and a P/E ratio of -37.31. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 in the last 90 days.

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. lifted 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 valued at $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its position in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after buying an additional 3,760,765 shares in the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs during the fourth quarter worth approximately $229,991,000. Lord Abbett & CO. LLC increased its position in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Astera Labs in the 4th quarter valued at $179,229,000. 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.