Roth Mkm Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its price target hoisted by Roth Mkm from $80.00 to $105.00 in a research report released on Tuesday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on ALAB. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Morgan Stanley increased their price target on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $92.36.

Astera Labs Price Performance

Shares of ALAB opened at $95.91 on Tuesday. The firm has a fifty day moving average price of $55.90 and a 200 day moving average price of $58.11. Astera Labs has a 1-year low of $36.22 and a 1-year high of $97.35.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares of the company’s stock, valued at $8,451,530. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock valued at $31,970,841 in the last quarter.

Institutional Trading of Astera Labs

Several large investors have recently modified their holdings of ALAB. Vanguard Group Inc. purchased a new stake in Astera Labs in the 1st quarter valued at approximately $127,268,000. Capital World Investors acquired a new position in shares of Astera Labs in the first quarter worth $44,514,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs in the first quarter valued at $44,514,000. Bamco Inc. NY acquired a new stake in shares of Astera Labs during the first quarter valued at $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Astera Labs during the 1st quarter worth about $33,141,000.

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.