Astera Labs (NASDAQ:ALAB) Price Target Cut to $80.00 by Analysts at Stifel Nicolaus

Astera Labs (NASDAQ:ALAB) had its price target trimmed by Stifel Nicolaus from $87.00 to $80.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on ALAB. Morgan Stanley began coverage on Astera Labs in a research report on Monday, April 15th. They issued an overweight rating and a $81.00 target price for the company. Craig Hallum began coverage on shares of Astera Labs in a report on Monday, April 15th. They set a buy rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a buy rating and a $85.00 price target for the company. Barclays assumed coverage on Astera Labs in a research report on Monday, April 15th. They set an overweight rating and a $85.00 price objective on the stock. Finally, Evercore ISI began coverage on Astera Labs in a report on Tuesday, April 16th. They issued an outperform rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $71.36.

Astera Labs Trading Up 12.8 %

Shares of ALAB stock opened at $41.01 on Monday. The business has a 50 day moving average of $55.83. Astera Labs has a one year low of $36.22 and a one year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts expect that Astera Labs will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Astera Labs in the first quarter valued at approximately $18,666,000. Seven Grand Managers LLC purchased a new stake in Astera Labs in the first quarter valued at $3,710,000. Value Aligned Research Advisors LLC acquired a new position in Astera Labs in the first quarter valued at $1,886,000. Amazon Com Inc. purchased a new position in shares of Astera Labs during the first quarter worth about $20,608,000. Finally, Capstone Investment Advisors LLC purchased a new position in Astera Labs during the 1st quarter worth approximately $4,629,000.

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.