Astera Labs’ (ALAB) Buy Rating Reiterated at Needham & Company LLC

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $140.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 35.54% from the stock’s current price.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. 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 company’s stock. According to MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $113.67.

Astera Labs Trading Up 2.0 %

NASDAQ ALAB opened at $103.29 on Tuesday. The company has a fifty day moving average price of $122.39 and a 200-day moving average price of $82.15. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Equities research analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 7,398 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $671,812.38. Following the sale, the chief financial officer now owns 286,424 shares in the company, valued at approximately $26,010,163.44. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 846,452 shares of company stock worth $86,427,256.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC grew its position in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs in the fourth quarter valued at approximately $229,991,000. JPMorgan Chase & Co. lifted its position in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the last quarter. 60.47% of the stock is owned by institutional investors.

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.