Astera Labs (NASDAQ:ALAB) Price Target Raised to $135.00 at Barclays

Astera Labs (NASDAQ:ALAB - Get Free Report) had its target price hoisted by analysts at Barclays from $87.00 to $135.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 1.28% from the stock's current price.

A number of other equities analysts also recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $100.00 to $120.00 in a report on Thursday, January 2nd. Craig Hallum lifted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Astera Labs from $94.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.75.

Astera Labs Stock Up 4.2 %

Shares of ALAB stock traded up $5.40 during trading on Friday, hitting $133.30. The company had a trading volume of 3,241,856 shares, compared to its average volume of 3,784,042. The stock's 50-day moving average is $119.56 and its two-hundred day moving average is $76.54. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company's quarterly revenue was up 47.1% on a year-over-year basis. Sell-side analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 in the last quarter.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently bought and sold shares of the business. Wesbanco Bank Inc. bought a new stake in Astera Labs in the 4th quarter worth approximately $331,000. Dakota Wealth Management grew its holdings in shares of Astera Labs by 2.5% in the fourth quarter. Dakota Wealth Management now owns 43,110 shares of the company's stock worth $5,710,000 after acquiring an additional 1,049 shares during the period. Trueblood Wealth Management LLC bought a new position in Astera Labs in the fourth quarter valued at about $331,000. Mandatum Life Insurance Co Ltd purchased a new position in Astera Labs in the fourth quarter worth about $462,000. Finally, Oak Ridge Investments LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at about $284,000. 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.