Astera Labs (NASDAQ:ALAB) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Astera Labs (NASDAQ:ALAB) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $55.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft dropped their price target on Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Craig Hallum lowered their price objective on shares of Astera Labs from $90.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Astera Labs from $95.00 to $70.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. Roth Mkm lowered their target price on shares of Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Astera Labs from $87.00 to $80.00 and set a buy rating for the company in a research report on Monday, August 5th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs currently has an average rating of Buy and an average target price of $71.36.

Astera Labs Trading Down 4.1 %

ALAB opened at $40.00 on Wednesday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $95.21. The stock’s 50 day moving average price is $47.08.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the sale, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the transaction, the chief financial officer now owns 829,108 shares of the company’s stock, valued at $39,780,601.84. The disclosure for this sale can be found here. Insiders have sold 100,090 shares of company stock valued at $4,445,659 in the last quarter.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently bought and sold shares of ALAB. Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs in the first quarter valued at $18,666,000. Value Aligned Research Advisors LLC acquired a new position in shares of Astera Labs during the 1st quarter valued at about $1,886,000. Amazon Com Inc. acquired a new stake in shares of Astera Labs in the first quarter worth approximately $20,608,000. Capstone Investment Advisors LLC acquired a new stake in shares of Astera Labs in the first quarter worth approximately $4,629,000. Finally, Jennison Associates LLC acquired a new position in Astera Labs during the first quarter worth approximately $11,283,000.

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.