Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Evercore ISI Analyst Says

Astera Labs (NASDAQ:ALAB) had its target price boosted by equities research analysts at Evercore ISI from $87.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 10.29% from the company’s current price.

ALAB has been the subject of several other research reports. Citigroup dropped their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research note on Monday, May 12th. Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Roth Capital set a $100.00 price target on Astera Labs and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Astera Labs has an average rating of “Buy” and a consensus target price of $100.00.

Astera Labs Trading Up 2.3%

Shares of NASDAQ:ALAB opened at $94.30 on Wednesday. The stock has a 50 day moving average of $68.47 and a 200 day moving average of $92.59. The company has a market cap of $15.55 billion, a PE ratio of -54.51, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm’s revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. Equities research analysts predict that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total value of $6,817,500.00. Following the completion of the transaction, the chief executive officer now directly owns 562,500 shares of the company’s stock, valued at $51,131,250. This trade represents a 11.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 9,107 shares of Astera Labs stock in a transaction on Friday, May 16th. The stock was sold at an average price of $90.67, for a total transaction of $825,731.69. Following the completion of the transaction, the chief financial officer now directly owns 235,135 shares of the company’s stock, valued at $21,319,690.45. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 852,640 shares of company stock worth $69,893,694.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its position in Astera Labs by 1.8% in the fourth 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 in the last quarter. Peregrine Investment Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter valued at approximately $10,701,000. Elemental Capital Partners LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at approximately $1,346,000. Renaissance Capital LLC lifted its position in Astera Labs by 381.0% in the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock worth $15,136,000 after buying an additional 90,516 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after buying an additional 792,153 shares during the last quarter. Hedge funds and other 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.