Jefferies Financial Group Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB - Get Free Report) had its price target increased by equities researchers at Jefferies Financial Group from $95.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 11.20% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Evercore ISI lifted their target price on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Wall Street Zen downgraded Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Barclays lifted their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Susquehanna assumed coverage on shares of Astera Labs in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Astera Labs has a consensus rating of "Moderate Buy" and an average target price of $102.67.

Astera Labs Trading Down 4.1%

Shares of ALAB stock traded down $4.98 during trading hours on Tuesday, hitting $116.91. 7,658,587 shares of the company's stock were exchanged, compared to its average volume of 4,492,846. The company has a market capitalization of $19.28 billion, a PE ratio of 531.43, a PEG ratio of 4.79 and a beta of 1.18. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39. The business's 50 day simple moving average is $92.81 and its 200-day simple moving average is $86.33.

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

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 128,250 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the sale, the chief executive officer owned 541,125 shares of the company's stock, valued at approximately $48,712,072.50. The trade was a 19.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $45,115,000.00. Following the completion of the transaction, the chief financial officer directly owned 618,996 shares in the company, 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. Insiders have sold 2,092,242 shares of company stock valued at $190,815,880 in the last ninety days.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Realta Investment Advisors purchased a new position in shares of Astera Labs during the 2nd quarter valued at approximately $214,000. Wealthcare Advisory Partners LLC lifted its holdings in Astera Labs by 0.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 29,160 shares of the company's stock valued at $2,637,000 after purchasing an additional 221 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Astera Labs during the second quarter worth about $547,000. Fortis Capital Advisors LLC purchased a new position in Astera Labs in the 2nd quarter valued at about $962,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Astera Labs during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors 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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