Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $73.09.

Several research analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm dropped their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI reduced their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday.

Insider Activity at Astera Labs

In other news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares in the company, valued at $8,451,530. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,791 shares of company stock worth $20,840,158.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of ALAB. Allspring Global Investments Holdings LLC bought a new position in Astera Labs in the 1st quarter valued at approximately $18,666,000. Amazon Com Inc. bought a new position in shares of Astera Labs in the 1st quarter valued at $20,608,000. Capstone Investment Advisors LLC acquired a new stake in shares of Astera Labs during the 1st quarter valued at $4,629,000. Jennison Associates LLC bought a new stake in Astera Labs during the 1st quarter worth $11,283,000. Finally, Peregrine Asset Advisers Inc. bought a new position in Astera Labs in the first quarter valued at about $2,515,000.

Astera Labs Trading Up 0.9 %

Shares of ALAB stock opened at $66.69 on Monday. The firm’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $58.66. Astera Labs has a 1 year low of $36.22 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that Astera Labs will post -0.54 earnings per share for the current fiscal year.

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.