Craig Hallum Boosts Astera Labs (NASDAQ:ALAB) Price Target to $125.00

Astera Labs (NASDAQ:ALAB) had its price target boosted by equities researchers at Craig Hallum from $105.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 42.86% from the company’s current price.

Several other brokerages have also issued reports on ALAB. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $115.33.

Astera Labs Trading Down 4.9 %

NASDAQ:ALAB opened at $87.50 on Tuesday. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The company has a fifty day moving average price of $121.90 and a 200 day moving average price of $82.86.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. On average, equities analysts expect that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the sale, the general counsel now owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in Astera Labs in the fourth quarter valued at about $555,000. Arete Wealth Advisors LLC bought a new stake in shares of Astera Labs during the fourth quarter worth about $1,053,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Astera Labs by 418.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock worth $221,721,000 after purchasing an additional 1,351,007 shares during the last quarter. Discovery Capital Management LLC CT bought a new stake in shares of Astera Labs during the fourth quarter worth about $8,675,000. Finally, Trexquant Investment LP bought a new stake in shares of Astera Labs during the fourth quarter worth about $9,941,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.