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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has received an average recommendation of "Buy" from the sixteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $100.00.

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. William Blair assumed coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research note on Monday, May 12th. Finally, Raymond James Financial initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target on the stock.

Astera Labs Stock Down 5.8%

Shares of ALAB stock traded down $5.82 during mid-day trading on Wednesday, reaching $94.04. 3,630,451 shares of the company's stock traded hands, compared to its average volume of 4,667,365. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market cap of $15.51 billion, a P/E ratio of 428.05, a P/E/G ratio of 4.34 and a beta of 1.18. The company's 50-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 announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million for the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the business posted $0.10 EPS. The company's quarterly revenue was up 144.1% on a year-over-year basis. Equities analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Activity

In other Astera Labs news, Director Manuel Alba sold 30,991 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total value of $2,824,209.83. Following the transaction, the director directly owned 418,863 shares in the company, valued at approximately $38,170,985.19. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 in the company, valued at approximately $70,348,850. This represents a 9.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,782,720 shares of company stock worth $160,506,999.

Institutional Trading of Astera Labs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its position in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after buying an additional 390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Astera Labs by 2,824.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock worth $20,467,000 after buying an additional 149,240 shares in the last quarter. JPMorgan Chase & Co. increased its position in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after buying an additional 792,153 shares in the last quarter. Pacific Point Advisors LLC increased its position in Astera Labs by 75.0% in the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after buying an additional 3,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Astera Labs by 73.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after buying an additional 6,783 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

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.