Needham & Company LLC Issues Pessimistic Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB - Free Report) had its price target lowered by Needham & Company LLC from $140.00 to $100.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Citigroup dropped their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. 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 investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $100.85.

Astera Labs Stock Down 0.6 %

Shares of ALAB traded down $0.44 during mid-day trading on Wednesday, reaching $71.20. 2,694,193 shares of the stock traded hands, compared to its average volume of 3,851,011. The stock has a fifty day simple moving average of $64.32 and a 200 day simple moving average of $91.42. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of -41.16, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company's revenue for the quarter was up 144.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. On average, equities research analysts expect that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently made changes to their positions in ALAB. Vanguard Group Inc. grew its stake in Astera Labs by 0.9% during the first quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company's stock worth $554,780,000 after buying an additional 85,846 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Astera Labs during the 4th quarter worth about $229,991,000. 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.