Stifel Nicolaus Increases Astera Labs (NASDAQ:ALAB) Price Target to $110.00

Astera Labs (NASDAQ:ALAB - Get Free Report) had its target price upped by equities researchers at Stifel Nicolaus from $100.00 to $110.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 12.98% from the stock's previous close.

Several other analysts have also commented on ALAB. Susquehanna started coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective for the company. Barclays raised their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup lowered their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs has an average rating of "Moderate Buy" and an average target price of $100.71.

Astera Labs Stock Performance

ALAB traded down $0.59 during trading on Friday, reaching $97.36. The stock had a trading volume of 865,672 shares, compared to its average volume of 4,394,998. The stock has a market cap of $16.06 billion, a PE ratio of 445.14, a PEG ratio of 4.32 and a beta of 1.18. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The business has a 50-day moving average of $92.19 and a 200-day moving average of $87.19.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's revenue was up 144.1% on a year-over-year basis. Equities research analysts forecast that Astera Labs will post 0.34 EPS for the current fiscal 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 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 owned 618,996 shares in the company, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer owned 541,125 shares in the company, valued at approximately $48,712,072.50. This represents a 19.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,965,984 shares of company stock worth $178,631,873 in the last 90 days.

Institutional Trading of Astera Labs

A number of institutional investors and hedge funds have recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth about $25,000. Hoey Investments Inc. increased its holdings in shares of Astera Labs by 4.2% in the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after buying an additional 200 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Astera Labs by 34.7% in the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Astera Labs by 20.4% in the 1st quarter. Allworth Financial LP now owns 1,394 shares of the company's stock worth $90,000 after buying an additional 236 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Astera Labs by 55.7% in the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after buying an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.

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