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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has been given an average rating of "Buy" by the sixteen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $100.00.

Several research analysts recently issued reports on the company. Susquehanna began coverage on Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Raymond James Financial assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Finally, William Blair assumed coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating on the stock.

Astera Labs Stock Down 2.8%

ALAB stock traded down $2.84 during midday trading on Wednesday, reaching $97.02. 6,411,747 shares of the company's stock traded hands, compared to its average volume of 4,358,131. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 441.02, a P/E/G ratio of 4.69 and a beta of 1.18. The firm's fifty day moving average price is $89.42 and its 200-day moving average price is $89.10.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Analysts forecast that Astera Labs will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, COO Sanjay Gajendra sold 76,373 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $98.39, for a total value of $7,514,339.47. Following the completion of the transaction, the chief operating officer directly owned 715,000 shares of the company's stock, valued at $70,348,850. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bethany Mayer sold 686 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the completion of the transaction, the director owned 6,238 shares of the company's stock, valued at approximately $545,637.86. This represents a 9.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,782,720 shares of company stock worth $160,506,999 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. US Bancorp DE boosted its stake in Astera Labs by 627.4% during the fourth quarter. US Bancorp DE now owns 6,350 shares of the company's stock valued at $841,000 after buying an additional 5,477 shares during the period. Steward Partners Investment Advisory LLC boosted its position 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 valued at $26,000 after acquiring an additional 99 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Astera Labs by 12.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,472 shares of the company's stock worth $17,546,000 after purchasing an additional 15,008 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Astera Labs by 13.6% during the fourth quarter. Victory Capital Management Inc. now owns 15,216 shares of the company's stock worth $2,015,000 after purchasing an additional 1,826 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of Astera Labs in the fourth quarter worth approximately $303,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.