Astera Labs (NASDAQ:ALAB) Hits New 1-Year High - What's Next?

Key Points

• Astera Labs shares reached a new 52-week high of $185.75, closing at $179.43 with significant trading volume of over 4.76 million shares.
• Analysts have set various price targets for Astera Labs, with the consensus rating at "Moderate Buy" and a target of $129.13, reflecting strong interest in the stock.
• The company reported a remarkable revenue increase of 149.5% year-over-year, with quarterly earnings of $0.44 per share, surpassing estimates and indicating robust growth.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $185.75 and last traded at $179.43, with a volume of 4765213 shares traded. The stock had previously closed at $179.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALAB shares. Susquehanna raised their price objective on shares of Astera Labs from $80.00 to $125.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Northland Capmk lowered shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group lifted their price target on shares of Astera Labs from $95.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $129.13.

Astera Labs Stock Performance

The stock has a market cap of $31.70 billion, a P/E ratio of 340.52, a P/E/G ratio of 4.87 and a beta of 1.39. The stock's fifty day simple moving average is $111.59 and its 200-day simple moving average is $88.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $191.93 million during the quarter, compared to analysts' expectations of $172.46 million. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The business's revenue for the quarter was up 149.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, COO Sanjay Gajendra sold 280,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $170.02, for a total value of $47,605,600.00. Following the completion of the transaction, the chief operating officer directly owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 152,517 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the transaction, the chief executive officer owned 450,001 shares of the company's stock, valued at approximately $76,648,670.33. This represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,425,276 shares of company stock worth $272,127,521. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently added to or reduced their stakes in the stock. Straight Path Wealth Management grew its holdings in Astera Labs by 1.5% during the 2nd quarter. Straight Path Wealth Management now owns 6,850 shares of the company's stock worth $619,000 after acquiring an additional 100 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Astera Labs by 12.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 982 shares of the company's stock worth $89,000 after acquiring an additional 108 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Astera Labs by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 477 shares of the company's stock worth $43,000 after acquiring an additional 194 shares during the last quarter. Hoey Investments Inc. grew its holdings in Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after acquiring an additional 200 shares during the last quarter. Finally, Berbice Capital Management LLC grew its holdings in Astera Labs by 14.3% during the 2nd quarter. Berbice Capital Management LLC now owns 1,600 shares of the company's stock worth $145,000 after acquiring an additional 200 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.