Susquehanna Increases Astera Labs (NASDAQ:ALAB) Price Target to $125.00

Key Points

• Susquehanna raised its target price for Astera Labs (NASDAQ:ALAB) from $80.00 to $125.00, indicating a potential downside of 28.32% based on the current stock price.
• The stock received multiple ratings upgrades, with Needham & Company setting a price target of $170.00 and Jefferies Financial Group targeting $130.00, both with 'buy' ratings.
• Astera Labs reported a significant revenue increase of 149.5% year-over-year, with earnings per share of $0.44, exceeding the consensus estimate by $0.11.

Astera Labs (NASDAQ:ALAB - Free Report) had its price target upped by Susquehanna from $80.00 to $125.00 in a research note released on Thursday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on ALAB. Stifel Nicolaus set a $145.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a report on Monday. Citigroup cut 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. Needham & Company LLC lifted their price target on Astera Labs from $100.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Finally, William Blair initiated coverage on Astera Labs in a research report on Thursday, May 22nd. They issued an "outperform" rating for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $129.13.

Astera Labs Trading Up 4.9%

Shares of NASDAQ ALAB traded up $8.39 during midday trading on Thursday, reaching $179.28. The company had a trading volume of 7,062,196 shares, compared to its average volume of 6,687,345. The business's 50-day simple moving average is $105.95 and its 200 day simple moving average is $87.37. The stock has a market cap of $29.80 billion, a P/E ratio of 320.14, a P/E/G ratio of 7.27 and a beta of 1.39. Astera Labs has a 1 year low of $36.85 and a 1 year high of $183.62.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The firm had revenue of $191.93 million during the quarter, compared to analysts' expectations of $172.46 million. During the same period last year, the business posted $0.13 earnings per share. The company's revenue for the quarter was up 149.5% compared to the same quarter last year. Analysts predict that Astera Labs will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 76,258 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $112.72, for a total value of $8,595,801.76. Following the completion of the sale, the chief executive officer directly owned 475,421 shares in the company, valued at approximately $53,589,455.12. This represents a 13.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sanjay Gajendra sold 280,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $170.02, for a total value of $47,605,600.00. Following the sale, the chief operating officer owned 5,525,545 shares of the company's stock, valued at approximately $939,453,160.90. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,221,759 shares of company stock valued at $231,319,881.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in Astera Labs by 114.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company's stock worth $501,289,000 after acquiring an additional 4,478,741 shares during the period. Atreides Management LP boosted its position in Astera Labs by 153.3% during the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company's stock worth $277,601,000 after acquiring an additional 2,815,614 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after purchasing an additional 1,384,498 shares during the period. Driehaus Capital Management LLC lifted its holdings in Astera Labs by 16,640.4% in the fourth quarter. Driehaus Capital Management LLC now owns 1,324,330 shares of the company's stock worth $175,408,000 after purchasing an additional 1,316,419 shares during the period. Finally, FengHe Fund Management Pte. Ltd. acquired a new stake in Astera Labs in the second quarter worth about $106,772,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.