Astera Labs (NASDAQ:ALAB – Free Report) had its price target trimmed by Needham & Company LLC from $85.00 to $65.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other research firms have also recently issued reports on ALAB. Barclays assumed coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an overweight rating and a $85.00 price target on the stock. Jefferies Financial Group started coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a report on Monday, April 15th. They set a buy rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $85.00 target price for the company. Finally, Craig Hallum started coverage on Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $90.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $71.36.
Get Our Latest Stock Analysis on Astera Labs
Astera Labs Price Performance
Astera Labs (NASDAQ:ALAB – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Astera Labs will post -0.56 EPS for the current fiscal year.
Institutional Investors Weigh In On Astera Labs
Several hedge funds have recently made changes to their positions in ALAB. Vanguard Group Inc. acquired a new position in shares of Astera Labs in the first quarter worth $127,268,000. Capital World Investors acquired a new stake in shares of Astera Labs in the first quarter worth about $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the 1st quarter worth about $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the 1st quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Astera Labs in the 1st quarter valued at approximately $33,141,000.
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.
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