Citigroup Issues Pessimistic Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB - Free Report) had its target price trimmed by Citigroup from $120.00 to $100.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also commented on ALAB. Needham & Company LLC reissued a "buy" rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. 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. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus increased their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Astera Labs currently has an average rating of "Buy" and an average target price of $109.25.

Astera Labs Stock Up 0.3 %

NASDAQ:ALAB traded up $0.18 on Monday, hitting $58.96. The stock had a trading volume of 1,941,533 shares, compared to its average volume of 3,804,512. The company has a fifty day moving average price of $69.23 and a two-hundred day moving average price of $90.85. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39. The stock has a market cap of $9.56 billion and a price-to-earnings ratio of -34.08.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, analysts anticipate that Astera Labs will post 0.34 earnings per share for the current year.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock valued at $54,235,012 in the last quarter.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the fourth quarter valued at about $25,000. Steward Partners Investment Advisory LLC boosted its holdings 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 during the period. Kestra Investment Management LLC acquired a new stake in Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC lifted its position in shares of 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.