Astera Labs (NASDAQ:ALAB) Upgraded to Overweight at Morgan Stanley

Astera Labs (NASDAQ:ALAB) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat reports. The brokerage currently has a $99.00 target price on the stock. Morgan Stanley’s price target suggests a potential upside of 12.81% from the company’s current price.

Other equities analysts have also issued reports about the stock. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a “buy” rating in a research report on Wednesday, May 7th. Needham & Company LLC cut their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus cut their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Raymond James 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 objective for the company. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $99.69.

Astera Labs Stock Up 9.3%

Shares of NASDAQ:ALAB opened at $87.76 on Monday. The firm has a market capitalization of $14.47 billion, a PE ratio of -50.73, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a 50-day moving average price of $65.04 and a two-hundred day moving average price of $91.76.

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

Insiders Place Their Bets

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider now owns 755,000 shares in the company, valued at $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the sale, the chief executive officer now directly owns 575,000 shares of the company’s stock, valued at approximately $40,853,750. This represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 873,990 shares of company stock worth $71,404,162 over the last quarter.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC lifted its holdings 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 worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Astera Labs by 3,155.6% during 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 and hedge funds 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.