Astera Labs (NASDAQ:ALAB) Upgraded to Strong-Buy at Northland Capmk

Astera Labs (NASDAQ:ALAB) was upgraded by Northland Capmk from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on ALAB. Stifel Nicolaus increased their price objective 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. Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Tuesday. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $107.42.

Astera Labs Trading Up 7.8 %

NASDAQ:ALAB opened at $89.63 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a 50 day moving average of $122.86 and a 200-day moving average of $79.28.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for 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 revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities research analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This represents a 27.84 % 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 Trading of Astera Labs

Several hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after buying an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astera Labs in the 3rd quarter worth about $530,000. Avior Wealth Management LLC bought a new stake in Astera Labs in the 3rd quarter valued at about $361,000. Maverick Capital Ltd. grew 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 worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii bought a new position in shares of Astera Labs during the third quarter worth approximately $1,409,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.