Barclays Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its target price raised by Barclays from $87.00 to $135.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on ALAB. Morgan Stanley upped their target price on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has an average rating of “Moderate Buy” and an average price target of $109.75.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $133.30 on Friday. The stock’s fifty day moving average is $118.88 and its 200 day moving average is $76.01. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

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

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 7,398 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $671,812.38. Following the sale, the chief financial officer now directly owns 286,424 shares of the company’s stock, valued at $26,010,163.44. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last 90 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its stake in Astera Labs by 81.8% during 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. acquired a new stake in shares of Astera Labs during the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter valued at $361,000. Maverick Capital Ltd. lifted its position in shares of Astera Labs by 16.0% during the 3rd 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 boosted its stake in Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after acquiring an additional 442,698 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.