Astera Labs (NASDAQ:ALAB) Price Target Raised to $100.00 at Stifel Nicolaus

Astera Labs (NASDAQ:ALAB) had its price objective boosted by equities researchers at Stifel Nicolaus from $80.00 to $100.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 9.21% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Roth Mkm decreased their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Evercore ISI dropped their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average price target of $86.45.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $21.92 during midday trading on Tuesday, hitting $91.57. The company had a trading volume of 9,468,139 shares, compared to its average volume of 2,792,196. The business’s 50-day simple moving average is $54.88 and its 200-day simple moving average is $57.89. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Equities research analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in Astera Labs in the 1st quarter worth approximately $952,000. Vanguard Group Inc. bought a new position in Astera Labs in the 1st quarter worth $127,268,000. Forge First Asset Management Inc. acquired a new position in Astera Labs during the 1st quarter worth $1,143,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Astera Labs in the first quarter valued at about $44,514,000. Finally, Jennison Associates LLC acquired a new stake in Astera Labs in the 1st quarter valued at approximately $11,283,000.

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.