Analysts Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $112.77

Astera Labs, Inc. (NASDAQ:ALAB) has been given a consensus recommendation of “Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $112.77.

Several analysts have issued reports on the stock. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus increased their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Raymond James began coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $52.94 on Monday. The business’s fifty day moving average is $78.49 and its 200 day moving average is $91.05. The firm has a market cap of $8.58 billion and a price-to-earnings ratio of -30.60. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Equities analysts predict that Astera Labs will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock worth $54,235,012 in the last 90 days.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of Astera Labs by 2,495.8% in the fourth quarter. California State Teachers Retirement System now owns 41,740 shares of the company’s stock valued at $5,528,000 after acquiring an additional 40,132 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Astera Labs in the fourth quarter worth about $475,000. Wealthedge Investment Advisors LLC purchased a new position in Astera Labs during the 4th quarter valued at about $351,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Astera Labs during the 4th quarter valued at approximately $18,209,000. Finally, Ameriflex Group Inc. purchased a new stake in Astera Labs in the 4th quarter worth approximately $144,000. Hedge funds and other institutional investors 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.