Astera Labs (NASDAQ:ALAB) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Astera Labs (NASDAQ:ALAB - Free Report) from a buy rating to a hold rating in a research report released on Saturday.

ALAB has been the topic of a number of other research reports. Raymond James Financial began coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Needham & Company LLC dropped their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. 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. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Finally, Citigroup cut their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Astera Labs has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $1.94 during trading on Friday, reaching $92.26. The company had a trading volume of 2,423,406 shares, compared to its average volume of 4,374,697. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock's fifty day moving average price is $90.83 and its 200 day moving average price is $87.39. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 420.39, a price-to-earnings-growth ratio of 4.50 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business's revenue was up 144.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, equities analysts anticipate that Astera Labs will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs 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 completion of the transaction, the chief executive officer owned 541,125 shares of the company's stock, valued at $48,712,072.50. This represents a 19.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction on Thursday, May 8th. The shares were 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 $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,965,984 shares of company stock worth $178,631,873.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently made changes to their positions in ALAB. Proficio Capital Partners LLC increased its holdings in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after buying an additional 390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Astera Labs by 2,824.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock valued at $20,467,000 after acquiring an additional 149,240 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after acquiring an additional 792,153 shares during the period. Pacific Point Advisors LLC boosted its position in shares of Astera Labs by 75.0% during the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Astera Labs by 73.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after buying an additional 6,783 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other 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.