Astera Labs (NASDAQ:ALAB) Stock Rating Lowered by Northland Capmk

Astera Labs (NASDAQ:ALAB - Get Free Report) was downgraded by equities research analysts at Northland Capmk from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on ALAB. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Susquehanna began coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective for the company. Wall Street Zen downgraded shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Jefferies Financial Group upped their price objective on shares of Astera Labs from $95.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.67.

Astera Labs Trading Down 4.1%

ALAB opened at $116.91 on Tuesday. The company has a market capitalization of $19.28 billion, a PE ratio of 531.43, a PEG ratio of 5.72 and a beta of 1.18. The firm's 50 day simple moving average is $92.81 and its two-hundred day simple moving average is $86.33. 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 posted its quarterly earnings data 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. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm's revenue for the quarter was up 144.1% on a year-over-year basis. Equities analysts forecast that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jitendra Mohan sold 128,250 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the transaction, the chief executive officer directly owned 541,125 shares of the company's stock, valued at approximately $48,712,072.50. This represents a 19.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider directly owned 755,000 shares in the company, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,092,242 shares of company stock valued at $190,815,880 in the last ninety days.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. HighTower Advisors LLC bought a new position in Astera Labs during the fourth quarter valued at $821,000. Commonwealth Equity Services LLC bought a new position in Astera Labs during the fourth quarter valued at $1,693,000. Thrivent Financial for Lutherans purchased a new stake in shares of Astera Labs during the fourth quarter worth $540,000. TD Private Client Wealth LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth $148,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Astera Labs during the fourth quarter worth $1,020,000. 60.47% of the stock is owned by institutional investors.

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.

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