Wall Street Zen upgraded shares of Astera Labs (NASDAQ:ALAB - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
Other research analysts have also recently issued research reports about the stock. William Blair began coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Needham & Company LLC lowered their price objective on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Susquehanna assumed coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Barclays raised their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $100.00.
Read Our Latest Stock Analysis on Astera Labs
Astera Labs Trading Up 1.5%
ALAB stock traded up $1.31 during trading on Friday, reaching $87.26. 7,504,327 shares of the stock were exchanged, compared to its average volume of 4,181,680. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 396.65, a P/E/G ratio of 4.37 and a beta of 1.38. The business has a 50 day moving average price of $82.17 and a 200-day moving average price of $91.46. 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 data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million for 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 firm's quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, research analysts anticipate that Astera Labs will post 0.34 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Jitendra Mohan sold 52,743 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98. Following the completion of the transaction, the chief executive officer now directly owns 512,218 shares of the company's stock, valued at approximately $51,662,307.48. This represents a 9.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. This trade represents a 12.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,751,043 shares of company stock worth $155,948,245 in the last 90 days.
Institutional Trading of Astera Labs
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter worth $28,000. Global Retirement Partners LLC increased its stake in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares during the period. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 60.47% of the company's stock.
About Astera Labs
(
Get Free Report)
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.
Read More
Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
