Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Barclays Analyst Says

Astera Labs (NASDAQ:ALAB) had its price objective lifted by Barclays from $70.00 to $87.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on ALAB. Roth Mkm lowered their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Morgan Stanley upped their target price on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus price target of $92.36.

Astera Labs Trading Up 37.7 %

Shares of ALAB stock opened at $95.91 on Tuesday. The company has a 50 day moving average price of $55.90 and a 200-day moving average price of $58.11. Astera Labs has a 52 week low of $36.22 and a 52 week high of $97.35.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Astera Labs will post -0.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. This trade represents a 0.00 % 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. In related news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 in the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Astera Labs in the third quarter valued at $751,000. Rakuten Securities Inc. bought a new stake in Astera Labs in the third quarter worth about $291,000. Venturi Wealth Management LLC lifted its stake in Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter. Lisanti Capital Growth LLC boosted its position in shares of Astera Labs by 99.2% during the third quarter. Lisanti Capital Growth LLC now owns 59,990 shares of the company’s stock valued at $3,143,000 after buying an additional 29,875 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in shares of Astera Labs by 158,424.1% during the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock valued at $16,859,000 after buying an additional 321,601 shares during the last quarter.

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.