Astera Labs, Inc. (NASDAQ:ALAB) Given Average Rating of “Buy” by Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $100.00.

ALAB has been the topic of several research reports. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective on the stock. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective on the stock in a research report on Monday, May 12th. Citigroup reduced their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th.

Astera Labs Price Performance

NASDAQ ALAB opened at $94.62 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The firm’s fifty day moving average price is $69.50 and its 200 day moving average price is $92.49.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same period last year, the firm posted $0.10 EPS. Astera Labs’s revenue for the quarter was up 144.1% on a year-over-year basis. As a group, sell-side analysts forecast that Astera Labs will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. The trade was a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Philip Mazzara sold 3,809 shares of Astera Labs stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $90.67, for a total transaction of $345,362.03. Following the transaction, the general counsel now owns 187,596 shares of the company’s stock, valued at approximately $17,009,329.32. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 852,640 shares of company stock worth $69,893,694 over the last 90 days.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in Astera Labs by 1,382.7% during the first quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company’s stock worth $241,000 after acquiring an additional 3,761 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Astera Labs by 0.8% during the first quarter. Focus Partners Wealth now owns 432,806 shares of the company’s stock worth $25,826,000 after buying an additional 3,464 shares in the last quarter. Optimize Financial Inc purchased a new stake in shares of Astera Labs during the first quarter worth about $1,718,000. Empowered Funds LLC grew its holdings in shares of Astera Labs by 917.3% during the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock worth $277,000 after buying an additional 4,183 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Astera Labs by 13.0% during the first quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock worth $93,087,000 after buying an additional 179,638 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.