Northland Securities Downgrades Astera Labs (NASDAQ:ALAB) to Market Perform

Astera Labs (NASDAQ:ALAB - Get Free Report) was downgraded by stock analysts at Northland Securities from an "outperform" rating to a "market perform" rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $120.00 target price on the stock. Northland Securities' target price suggests a potential downside of 1.55% from the company's current price.

A number of other brokerages also recently commented on ALAB. Needham & Company LLC lowered their target price 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. Evercore ISI upped their target price on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Barclays upped their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $100.71.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $121.89 on Tuesday. The business's 50-day moving average is $92.81 and its 200 day moving average is $86.33. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market capitalization of $20.10 billion, a P/E ratio of 554.07, a P/E/G ratio of 4.79 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company's revenue was up 144.1% on a year-over-year basis. On average, analysts expect that Astera Labs will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction on Friday, May 30th. The stock was 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. This trade represents a 44.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 128,250 shares of Astera Labs stock in a transaction on Monday, May 19th. The shares were sold at an average price of $90.02, for a total value of $11,545,065.00. Following the completion of the transaction, the chief executive officer owned 541,125 shares of the company's stock, valued at approximately $48,712,072.50. This trade represents a 19.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,092,242 shares of company stock worth $190,815,880 over the last ninety days.

Institutional Trading of Astera Labs

Institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Astera Labs by 2,824.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock worth $20,467,000 after buying an additional 149,240 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Pacific Point Advisors LLC increased its position in shares of Astera Labs by 75.0% during the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after purchasing an additional 3,000 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Astera Labs by 73.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after purchasing an additional 6,783 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC acquired a new stake in shares of Astera Labs during the first quarter worth about $1,887,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

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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