Astera Labs (NASDAQ:ALAB) Coverage Initiated at William Blair

William Blair assumed coverage on shares of Astera Labs (NASDAQ:ALAB - Free Report) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Susquehanna started coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $100.00.

Astera Labs Stock Up 0.3%

Shares of Astera Labs stock traded up $0.32 on Thursday, hitting $94.62. 3,223,727 shares of the company were exchanged, compared to its average volume of 3,988,631. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The company has a 50-day moving average price of $68.99 and a 200 day moving average price of $92.54. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39.

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

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 128,250 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $90.02, for a total value of $11,545,065.00. Following the completion of the transaction, the chief executive officer now owns 541,125 shares in the company, valued at $48,712,072.50. This represents a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares of the company's stock, valued at $28,190,968.31. This represents a 12.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 852,640 shares of company stock worth $69,893,694.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC raised its holdings in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its holdings in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds 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.