Astera Labs, Inc. (NASDAQ:ALAB) Receives $98.29 Consensus Target Price from Analysts

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has earned a consensus recommendation of "Buy" from the sixteen ratings firms that are currently covering the stock, MarketBeat reports. One investment 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 objective among brokerages that have covered the stock in the last year is $100.00.

Several equities research analysts have recently issued reports on ALAB shares. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th.

Astera Labs Price Performance

Shares of ALAB stock traded up $0.32 during trading hours on Tuesday, reaching $94.62. 3,223,727 shares of the stock were exchanged, compared to its average volume of 3,988,631. The business's fifty day moving average is $68.99 and its two-hundred day moving average is $92.52. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market capitalization of $15.60 billion, a P/E ratio of -54.69, a P/E/G ratio of 6.18 and a beta of 0.33.

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

Insider Buying and Selling at Astera Labs

In related news, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider now directly owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company's stock, valued at $28,190,968.31. This represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 852,640 shares of company stock valued at $69,893,694 in the last ninety days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its holdings in shares of 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 purchasing an additional 284 shares in the last quarter. 60.47% of the stock is 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.