Astera Labs (ALAB) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Astera Labs (NASDAQ: ALAB) in the last few weeks:

• 11/18/2024 – Astera Labs is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $120.00 price target on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Morgan Stanley from $74.00 to $94.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at JPMorgan Chase & Co. from $70.00 to $110.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Barclays PLC from $70.00 to $87.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Roth Mkm from $80.00 to $105.00. They now have a “buy” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Stifel Nicolaus from $80.00 to $100.00. They now have a “buy” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Craig Hallum from $75.00 to $105.00. They now have a “buy” rating on the stock.
• 11/5/2024 – Astera Labs had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $100.00. They now have a “buy” rating on the stock.
• 10/9/2024 – Astera Labs had its price target raised by analysts at Morgan Stanley from $55.00 to $74.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – Astera Labs had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $65.00 price target on the stock.

Astera Labs Price Performance

Astera Labs stock opened at $102.28 on Monday. The firm has a 50-day moving average price of $69.60 and a two-hundred day moving average price of $59.79. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $109.11.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 7,398 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $671,812.38. Following the sale, the chief financial officer now directly owns 286,424 shares in the company, valued at approximately $26,010,163.44. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares in the company, valued at $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,565,576 shares of company stock worth $129,835,552.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Blueprint LLC grew its position in shares of Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after acquiring an additional 284 shares during the period. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter valued at $26,000. Venturi Wealth Management LLC boosted its stake in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of Astera Labs during the third quarter valued at approximately $46,000.

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.