Astera Labs (NASDAQ:ALAB – Get Free Report) had its price objective reduced by equities researchers at Royal Bank Of Canada from $500.00 to $400.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 85.55% from the stock’s current price.
Other analysts have also recently issued reports about the stock. TD Cowen lowered their target price on shares of Astera Labs from $375.00 to $300.00 and set a “hold” rating on the stock in a research note on Monday, October 19th. Morgan Stanley boosted their price target on shares of Astera Labs from $240.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Barclays boosted their price target on shares of Astera Labs from $200.00 to $325.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Roth Capital reaffirmed a “buy” rating and issued a $450.00 price target on shares of Astera Labs in a report on Wednesday, August 5th. Finally, Citigroup downgraded Astera Labs from a “buy” rating to a “hold” rating in a research report on Friday, October 9th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.11.
Get Our Latest Research Report on ALAB
Astera Labs Price Performance
Shares of ALAB traded down $18.05 during midday trading on Wednesday, hitting $215.57. 3,519,845 shares of the company traded hands, compared to its average volume of 5,087,875. The stock has a 50-day moving average of $306.13 and a 200-day moving average of $255.53. Astera Labs has a one year low of $97.89 and a one year high of $499.48. The firm has a market cap of $37.40 billion, a P/E ratio of 107.69 and a beta of 3.85.
Astera Labs (NASDAQ:ALAB – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The company had revenue of $584.90 million during the quarter, compared to analyst estimates of $550.78 million. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. Astera Labs’s revenue was up 153.6% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Sell-side analysts forecast that Astera Labs will post 2.71 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Jitendra Mohan sold 90,630 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.35, for a total value of $30,845,920.50. Following the sale, the chief executive officer directly owned 1,266,665 shares of the company’s stock, valued at $431,109,432.75. This trade represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sanjay Gajendra sold 90,630 shares of Astera Labs stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the sale, the chief operating officer owned 1,119,038 shares of the company’s stock, valued at approximately $380,864,583.30. The trade was a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 408,558 shares of company stock valued at $127,306,034 in the last 90 days. 10.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Astera Labs
Institutional investors have recently modified their holdings of the company. Greenleaf Trust raised its stake in shares of Astera Labs by 1.8% during the second quarter. Greenleaf Trust now owns 2,000 shares of the company’s stock worth $966,000 after acquiring an additional 36 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Astera Labs by 74.5% in the second quarter. Parkside Financial Bank & Trust now owns 96 shares of the company’s stock worth $46,000 after buying an additional 41 shares during the period. Integrated Advisors Network LLC increased its stake in shares of Astera Labs by 4.8% in the third quarter. Integrated Advisors Network LLC now owns 983 shares of the company’s stock worth $350,000 after buying an additional 45 shares during the period. Interchange Capital Partners LLC increased its stake in shares of Astera Labs by 4.4% in the third quarter. Interchange Capital Partners LLC now owns 1,187 shares of the company’s stock worth $423,000 after buying an additional 50 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Astera Labs by 2.7% during the 1st quarter. Glenmede Trust Co. NA now owns 1,909 shares of the company’s stock valued at $209,000 after buying an additional 51 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.
Trending Headlines about Astera Labs
Here are the key news stories impacting Astera Labs this week:
- Positive Sentiment: Q3 revenue reached a record $584.9 million, up 154% year over year, while EPS of $1.32 topped the $1.19 consensus. Scorpio fabric switches became Astera’s largest product family, with volume production of the Scorpio X-Series driving growth. Astera Labs Q3 results
- Positive Sentiment: Management sees Q4 revenue of $730 million to $750 million and is pursuing additional growth in optical connectivity, memory and rack-scale AI systems. Northland Securities upgraded ALAB to “outperform” with a $315 target. Earnings call and growth highlights
- Neutral Sentiment: Analyst views diverged: Susquehanna cut its price target to $258 and kept a “neutral” rating, while Northland upgraded the shares. The split reflects uncertainty about the stock’s outlook even as business growth remains strong. Susquehanna rating
- Negative Sentiment: ALAB has fallen sharply from its 12-month high and recently broke below key technical levels. That momentum and the stock’s high valuation may help explain why investors have not fully rewarded the earnings and guidance beat. Recent share-price and technical weakness
Astera Labs Company Profile
Astera Labs, Inc is a semiconductor and connectivity solutions company that develops hardware and software for data centers, cloud computing, and artificial intelligence infrastructure. Its products are designed to help move data between processors, memory, storage, and networking components while addressing bandwidth, latency, and system-management requirements.
The company’s portfolio includes Aries PCI Express and Compute Express Link (CXL) Smart Retimers, Taurus Ethernet Smart Cable Modules, Scorpio Smart Fabric Switches, and Leo CXL Memory Connectivity Controllers.
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