Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Rating of “Buy” by Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have received an average rating of “Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $100.00.

A number of analysts have recently issued reports on ALAB shares. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research note on Monday, May 12th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th.

Astera Labs Stock Up 0.3%

ALAB stock opened at $94.62 on Tuesday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The stock’s fifty day simple moving average is $68.99 and its 200-day simple moving average is $92.54. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, analysts anticipate that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 3,809 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $90.67, for a total value of $345,362.03. Following the completion of the transaction, the general counsel now directly owns 187,596 shares in the company, valued at $17,009,329.32. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the transaction, the insider now owns 755,000 shares of the company’s stock, valued at approximately $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 852,640 shares of company stock worth $69,893,694.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC lifted its position in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.