Northland Securities Downgrades Astera Labs (NASDAQ:ALAB) to Market Perform

Northland Securities cut shares of Astera Labs (NASDAQ:ALAB) from an outperform rating to a market perform rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has $120.00 target price on the stock, up from their prior target price of $100.00.

ALAB has been the topic of several other research reports. Citigroup assumed coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Roth Mkm boosted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Craig Hallum raised their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs Stock Up 4.7 %

NASDAQ:ALAB opened at $140.93 on Thursday. The stock has a 50-day simple moving average of $109.63 and a 200-day simple moving average of $71.59. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.36.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, equities analysts expect that Astera Labs will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the completion of the sale, the general counsel now directly owns 300,564 shares of the company’s stock, valued at $18,256,257.36. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,978,119 shares of company stock worth $186,618,509 in the last three months.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Tidal Investments LLC lifted its position in Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astera Labs during the 3rd quarter worth about $530,000. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs during the 3rd quarter valued at about $361,000. Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the period. Finally, State Street Corp raised its position in Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.