Astera Labs (NASDAQ:ALAB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astera Labs (NASDAQ:ALAB - Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other analysts have also recently commented on ALAB. Susquehanna began coverage on Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. William Blair assumed coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating on the stock. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective for the company in a report on Monday, May 12th. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus lowered their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Trading Down 6.5%

Shares of NASDAQ ALAB traded down $6.46 during mid-day trading on Friday, reaching $93.07. The company had a trading volume of 8,070,498 shares, compared to its average volume of 4,156,368. The company has a 50-day moving average price of $81.64 and a two-hundred day moving average price of $91.86. The stock has a market cap of $15.35 billion, a PE ratio of 423.06, a P/E/G ratio of 4.37 and a beta of 1.39. 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 released 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. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter last year, the company posted $0.10 EPS. Astera Labs's revenue for the quarter was up 144.1% on a year-over-year basis. On average, research analysts expect that Astera Labs will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00. Following the sale, the chief executive officer now owns 575,000 shares in the company, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer now owns 618,996 shares of the company's stock, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,601,777 shares of company stock valued at $141,082,321.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of ALAB. Empowered Funds LLC bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $60,000. Rhumbline Advisers raised its stake in shares of Astera Labs by 371.4% in the fourth quarter. Rhumbline Advisers now owns 99,949 shares of the company's stock valued at $13,238,000 after purchasing an additional 78,746 shares in the last quarter. Principal Securities Inc. bought a new position in Astera Labs in the fourth quarter worth $55,000. Principal Financial Group Inc. acquired a new stake in Astera Labs during the fourth quarter worth $1,388,000. Finally, Sanctuary Advisors LLC boosted its stake in Astera Labs by 37.7% during the fourth quarter. Sanctuary Advisors LLC now owns 5,329 shares of the company's stock worth $706,000 after buying an additional 1,458 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.