Astera Labs (NASDAQ:ALAB) Trading Up 1% - Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares rose 1% during trading on Thursday . The stock traded as high as $122.88 and last traded at $120.71. Approximately 1,024,608 shares changed hands during trading, a decline of 78% from the average daily volume of 4,749,879 shares. The stock had previously closed at $119.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays increased their price target on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Jefferies Financial Group lifted 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. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Northland Capmk downgraded Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $102.67.

Astera Labs Price Performance

The company has a fifty day simple moving average of $94.80 and a two-hundred day simple moving average of $86.64. The company has a market capitalization of $20.04 billion, a P/E ratio of 552.99, a price-to-earnings-growth ratio of 5.49 and a beta of 1.18.

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

Insiders Place Their Bets

In related news, COO Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $98.61, for a total transaction of $16,270,650.00. Following the transaction, the chief operating officer owned 695,000 shares in the company, valued at $68,533,950. This represents a 19.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Manuel Alba sold 13,259 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $111.00, for a total value of $1,471,749.00. Following the sale, the director owned 1,874,498 shares of the company's stock, valued at approximately $208,069,278. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,181,759 shares of company stock valued at $200,883,431.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group bought a new position in Astera Labs during the second quarter worth about $29,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Astera Labs during the 4th quarter valued at about $43,000. NewEdge Advisors LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at approximately $63,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth $65,000. Finally, National Bank of Canada FI lifted its position in Astera Labs by 121.7% in the 4th quarter. National Bank of Canada FI now owns 541 shares of the company's stock valued at $72,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

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.

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