Astera Labs, Inc. (NASDAQ:ALAB) Given Average Rating of "Buy" by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have been given an average recommendation of "Buy" by the thirteen analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $109.25.

Several brokerages have recently weighed in on ALAB. Morgan Stanley decreased their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Stifel Nicolaus dropped their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Finally, Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last ninety days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC raised its stake in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Performance

Astera Labs stock traded down $0.34 during midday trading on Friday, reaching $65.31. The stock had a trading volume of 1,708,838 shares, compared to its average volume of 3,816,690. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39. The firm's fifty day simple moving average is $65.01 and its 200-day simple moving average is $91.17. The stock has a market capitalization of $10.59 billion and a P/E ratio of -37.75.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, sell-side analysts anticipate that Astera Labs will post 0.34 earnings per share for the current fiscal year.

About Astera Labs

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.