Astera Labs, Inc. (NASDAQ:ALAB) Receives Consensus Rating of "Buy" from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have earned a consensus recommendation of "Buy" from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $98.29.

ALAB has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research report on Monday, May 12th. Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Finally, Raymond James began coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the sale, the insider now owns 755,000 shares of the company's stock, valued at $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 904,480 shares of company stock worth $74,123,601.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the fourth quarter valued at about $25,000. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares during the period. 60.47% of the stock is owned by institutional investors.

Astera Labs Trading Down 0.3%

Astera Labs stock opened at $90.29 on Tuesday. The stock has a 50-day moving average price of $67.05 and a 200 day moving average price of $92.40. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a market cap of $14.89 billion, a PE ratio of -52.19, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities analysts predict that Astera Labs will post 0.34 EPS for the current 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.

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