Needham & Company LLC Cuts Astera Labs (NASDAQ:ALAB) Price Target to $65.00

Astera Labs (NASDAQ:ALAB) had its price target reduced by Needham & Company LLC from $85.00 to $65.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $85.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $85.00 price target for the company. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an outperform rating for the company in a research note on Wednesday. Craig Hallum initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $90.00 price target for the company. Finally, Roth Mkm initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has an average rating of Moderate Buy and a consensus price target of $71.36.

Astera Labs Stock Down 0.2 %

Shares of ALAB stock opened at $40.91 on Wednesday. The company has a 50-day moving average of $55.36. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts expect that Astera Labs will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Large investors have recently bought and sold shares of the company. Legato Capital Management LLC purchased a new stake in shares of Astera Labs in the second quarter valued at approximately $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $272,000. Strategic Blueprint LLC purchased a new stake in shares of Astera Labs in the second quarter valued at approximately $332,000. Central Pacific Bank Trust Division purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $402,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of Astera Labs in the second quarter valued at approximately $443,000.

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.