Astera Labs (NASDAQ:ALAB) Sets New 52-Week Low at $44.94

Astera Labs, Inc. (NASDAQ:ALAB)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $44.94 and last traded at $45.29, with a volume of 114981 shares. The stock had previously closed at $46.01.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley initiated coverage on Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $81.00 price objective on the stock. Roth Mkm initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Astera Labs in a research note on Wednesday, May 8th. Finally, Craig Hallum initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $90.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $86.09.

Astera Labs Stock Down 5.3 %

The company has a 50-day moving average price of $60.43.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The company had revenue of $65.26 million during the quarter, compared to analyst estimates of $56.65 million. As a group, equities analysts anticipate that Astera Labs, Inc. will post -0.56 EPS for the current year.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new stake in Astera Labs during the 2nd quarter worth approximately $207,000. Alpine Global Management LLC purchased a new position in shares of Astera Labs in the 1st quarter worth approximately $272,000. Strategic Blueprint LLC purchased a new position in Astera Labs in the second quarter valued at approximately $332,000. Central Pacific Bank Trust Division purchased a new position in Astera Labs in the first quarter valued at approximately $402,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of Astera Labs during the second quarter worth $443,000.

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.