Stifel Nicolaus Lowers Astera Labs (NASDAQ:ALAB) Price Target to $100.00

Astera Labs (NASDAQ:ALAB) had its price objective lowered by equities research analysts at Stifel Nicolaus from $150.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 70.13% from the company’s current price.

A number of other research firms have also weighed in on ALAB. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Citigroup cut their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus target price of $109.25.

Astera Labs Trading Down 2.2 %

Shares of ALAB stock opened at $58.78 on Thursday. The company has a market cap of $9.53 billion and a PE ratio of -33.98. The company’s fifty day simple moving average is $70.78 and its 200-day simple moving average is $90.74. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

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

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. This trade represents a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock valued at $54,235,012 in the last quarter.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter valued at approximately $25,000. Hoey Investments Inc. grew its position in Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock worth $47,000 after purchasing an additional 204 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter valued at $28,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.