JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price target upped by equities researchers at JPMorgan Chase & Co. from $70.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 20.13% from the company’s current price.

Other analysts have also issued reports about the company. Morgan Stanley increased their price objective on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm cut their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Barclays raised their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $86.45.

Astera Labs Trading Up 31.5 %

ALAB stock traded up $21.92 during trading hours on Tuesday, hitting $91.57. 9,468,139 shares of the stock traded hands, compared to its average volume of 2,792,196. The stock has a 50-day simple moving average of $54.88 and a 200 day simple moving average of $57.89. Astera Labs has a one year low of $36.22 and a one year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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 business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, sell-side analysts expect that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 564,458 shares of company stock worth $31,970,841.

Institutional Trading of Astera Labs

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new stake in shares of Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE bought a new stake in Astera Labs during the third quarter worth $46,000. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares in the last quarter. Amalgamated Bank acquired a new stake in Astera Labs in the second quarter valued at about $74,000. Finally, Venturi Wealth Management LLC increased its position in Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in 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.