Astera Labs (NASDAQ:ALAB) Trading Up 5.1% - Time to Buy?

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) rose 5.1% during trading on Thursday . The stock traded as high as $96.23 and last traded at $96.67. Approximately 1,376,112 shares traded hands during trading, a decline of 69% from the average daily volume of 4,383,393 shares. The stock had previously closed at $91.94.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALAB shares. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. William Blair started coverage on Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Needham & Company LLC dropped their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus reduced their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Astera Labs currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

Astera Labs Stock Up 6.5%

The stock has a market cap of $16.15 billion, a P/E ratio of 445.25, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. The firm's 50-day moving average is $91.66 and its two-hundred day moving average is $87.45.

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

Insider Buying and Selling

In related news, Director Manuel Alba sold 30,991 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total transaction of $2,824,209.83. Following the completion of the sale, the director directly owned 418,863 shares of the company's stock, valued at approximately $38,170,985.19. This represents a 6.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 11,282 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $102.46, for a total transaction of $1,155,953.72. Following the transaction, the chief executive officer directly owned 509,174 shares of the company's stock, valued at approximately $52,169,968.04. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,965,984 shares of company stock valued at $178,631,873 in the last quarter.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently made changes to their positions in ALAB. Janney Montgomery Scott LLC acquired a new position in Astera Labs during the 2nd quarter valued at $559,000. GC Wealth Management RIA LLC acquired a new stake in Astera Labs during the second quarter worth about $318,000. Sound Income Strategies LLC grew its position in Astera Labs by 31.1% during the second quarter. Sound Income Strategies LLC now owns 1,038 shares of the company's stock worth $94,000 after buying an additional 246 shares in the last quarter. Clay Northam Wealth Management LLC bought a new position in Astera Labs during the second quarter valued at about $235,000. Finally, Signaturefd LLC raised its holdings in Astera Labs by 112.5% in the 2nd quarter. Signaturefd LLC now owns 850 shares of the company's stock valued at $77,000 after acquiring an additional 450 shares in the last quarter. Institutional investors and hedge funds 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.

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