Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $100.00

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given an average recommendation of “Buy” by the sixteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $100.00.

Several analysts have issued reports on the stock. Needham & Company LLC decreased their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a “buy” rating in a research report on Wednesday, May 7th. William Blair began coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They issued an “outperform” rating on the stock. Stifel Nicolaus decreased their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Citigroup decreased their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 600 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $100.00, for a total value of $60,000.00. Following the transaction, the director now directly owns 436,563 shares in the company, valued at $43,656,300. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 106,510 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40. Following the completion of the transaction, the chief executive officer now owns 521,008 shares in the company, valued at approximately $49,256,096.32. This trade represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,601,777 shares of company stock worth $141,082,321 over the last ninety days.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Astera Labs by 0.9% in the first quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company’s stock valued at $554,780,000 after buying an additional 85,846 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Astera Labs by 114.2% during the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock worth $501,289,000 after purchasing an additional 4,478,741 shares in the last quarter. Atreides Management LP lifted its position in shares of Astera Labs by 153.3% during the first quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after purchasing an additional 2,815,614 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after purchasing an additional 1,384,498 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Price Performance

NASDAQ ALAB opened at $99.53 on Friday. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of 452.43, a P/E/G ratio of 4.36 and a beta of 1.39. The company’s fifty day moving average is $80.16 and its two-hundred day moving average is $92.21. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business’s quarterly revenue was up 144.1% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that Astera Labs will post 0.34 earnings per share for the current fiscal year.

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.