Astera Labs, Inc. (NASDAQ:ALAB) Receives $112.77 Average PT from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average recommendation of “Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $112.77.

A number of equities analysts have issued reports on ALAB shares. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Northland Securities upgraded 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. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% in the 4th 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 last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC raised its holdings in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the period. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Down 4.9 %

Astera Labs stock opened at $52.94 on Monday. The firm has a fifty day simple moving average of $78.49 and a two-hundred day simple moving average of $90.43. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a market capitalization of $8.58 billion and a PE ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that Astera Labs will post 0.34 earnings per share for the current fiscal year.

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.