Astera Labs (NASDAQ:ALAB) Stock Price Up 8.2%

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price was up 8.2% during trading on Wednesday . The stock traded as high as $41.45 and last traded at $41.45. Approximately 1,122,809 shares were traded during trading, a decline of 54% from the average daily volume of 2,438,458 shares. The stock had previously closed at $38.30.

Analyst Ratings Changes

ALAB has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus decreased their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Evercore ISI lowered their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $71.36.

Astera Labs Trading Up 5.1 %

The stock’s fifty day moving average price is $45.54.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for 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. On average, research analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00. Following the completion of the transaction, the general counsel now owns 325,474 shares of the company’s stock, valued at approximately $14,034,438.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Astera Labs news, CFO Michael Truett Tate sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now directly owns 829,108 shares in the company, valued at $39,780,601.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the sale, the general counsel now directly owns 325,474 shares in the company, valued at approximately $14,034,438.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,090 shares of company stock worth $4,445,659.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new stake in Astera Labs during the 2nd quarter worth about $74,000. Newbridge Financial Services Group Inc. grew its position in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Astera Labs during the second quarter worth approximately $207,000. Alpine Global Management LLC acquired a new stake in Astera Labs in the first quarter valued at approximately $272,000. Finally, Strategic Blueprint LLC purchased a new position in Astera Labs in the second quarter worth approximately $332,000.

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.