William Blair Initiates Coverage on Astera Labs (NASDAQ:ALAB)

Stock analysts at William Blair assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the stock.

Several other research analysts have also recently commented on ALAB. Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Needham & Company LLC decreased their target price on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus cut their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Raymond James started coverage on Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $100.00.

Astera Labs Stock Performance

NASDAQ ALAB opened at $94.62 on Thursday. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a market cap of $15.60 billion, a PE ratio of -54.69, a PEG ratio of 6.18 and a beta of 0.33. The firm has a 50-day simple moving average of $68.99 and a 200 day simple moving average of $92.58.

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

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the transaction, the chief executive officer now directly owns 562,500 shares in the company, valued at approximately $51,131,250. This represents a 11.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the sale, the insider now directly owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 852,640 shares of company stock worth $69,893,694 in the last three months.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs in the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC increased its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the period. 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.