Astera Labs (NASDAQ:ALAB – Free Report) had its price objective cut by JPMorgan Chase & Co. from $95.00 to $70.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.
A number of other research firms also recently weighed in on ALAB. Stifel Nicolaus decreased their target price on Astera Labs from $87.00 to $80.00 and set a buy rating on the stock in a research report on Monday, August 5th. Roth Mkm lowered their price objective on Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Astera Labs in a research report on Monday, April 15th. They issued a buy rating and a $85.00 target price for the company. Craig Hallum lowered their price target on shares of Astera Labs from $90.00 to $75.00 and set a buy rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They set a buy rating and a $85.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $71.36.
Check Out Our Latest Analysis on ALAB
Astera Labs Stock Down 0.2 %
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Sell-side analysts expect that Astera Labs will post -0.56 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Astera Labs during the 1st quarter worth approximately $18,666,000. Seven Grand Managers LLC bought a new position in shares of Astera Labs during the first quarter worth approximately $3,710,000. Value Aligned Research Advisors LLC acquired a new stake in Astera Labs during the 1st quarter worth approximately $1,886,000. Amazon Com Inc. bought a new stake in Astera Labs in the 1st quarter valued at $20,608,000. Finally, Capstone Investment Advisors LLC acquired a new position in Astera Labs in the 1st quarter valued at $4,629,000.
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.
Featured Stories
- Five stocks we like better than Astera Labs
- Where to Find Earnings Call Transcripts
- Cassava Sciences: A Hot Stock to Trade, Invest, or Avoid?
- What Does Downgrade Mean in Investing?
- MarketBeat Week in Review – 8/5 – 8/9
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- The Cannabis Sector: Profitability Takes Center Stage
Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.