Astera Labs (NASDAQ:ALAB) Price Target Raised to $75.00 at Barclays

Astera Labs (NASDAQ:ALAB - Get Free Report) had its price objective lifted by stock analysts at Barclays from $70.00 to $75.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 5.34% from the company's previous close.

A number of other brokerages have also commented on ALAB. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley decreased their target price on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astera Labs has an average rating of "Buy" and an average price target of $100.85.

Astera Labs Stock Down 0.6 %

NASDAQ:ALAB traded down $0.44 during trading hours on Wednesday, reaching $71.20. The company had a trading volume of 2,694,193 shares, compared to its average volume of 3,851,011. The business's 50-day simple moving average is $64.32 and its two-hundred day simple moving average is $91.42. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of -41.16, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly 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 business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. As a group, equities analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the 4th quarter valued at about $25,000. Hoey Investments Inc. lifted its holdings in Astera Labs by 4.2% during the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after purchasing an additional 200 shares during the last quarter. Sound Income Strategies LLC boosted its position in Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after purchasing an additional 204 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the fourth quarter worth about $28,000. 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.