Astera Labs (NASDAQ:ALAB) Shares Gap Up – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $122.45, but opened at $126.80. Astera Labs shares last traded at $125.96, with a volume of 542,834 shares traded.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $94.67.

Astera Labs Trading Up 6.1 %

The firm’s 50-day moving average price is $87.04 and its 200 day moving average price is $63.85.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,154,820 shares of company stock worth $195,106,438.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Blueprint LLC increased its holdings in shares of Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares during the period. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC increased its holdings in shares of Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares during the period. Finally, US Bancorp DE acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.