Astera Labs (NASDAQ:ALAB) Trading 7.8% Higher – What’s Next?

Astera Labs, Inc. (NASDAQ:ALAB)’s share price rose 7.8% on Monday . The company traded as high as $110.90 and last traded at $110.25. Approximately 867,126 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,132,753 shares. The stock had previously closed at $102.28.

Analyst Ratings Changes

Several research firms have issued reports on ALAB. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Evercore ISI decreased their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $94.67.

Astera Labs Stock Performance

The business has a 50-day moving average of $69.60 and a 200 day moving average of $59.79.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during 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 quarterly revenue was up 47.1% on a year-over-year basis. As a group, analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the sale, the chief financial officer now owns 829,108 shares in the company, valued at $39,780,601.84. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,565,576 shares of company stock worth $129,835,552.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter worth about $26,000. US Bancorp DE bought a new stake in Astera Labs in the third quarter valued at about $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs during the third quarter valued at approximately $49,000. Allworth Financial LP lifted its holdings in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter worth approximately $74,000.

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.