Stifel Nicolaus Reiterates $145.00 Price Target for Astera Labs (NASDAQ:ALAB)

Stifel Nicolaus set a $145.00 price target on Astera Labs (NASDAQ:ALAB) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently commented on ALAB. Morgan Stanley lifted their target price on Astera Labs from $99.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Susquehanna started coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 price objective for the company. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a “buy” rating in a report on Wednesday, May 7th. Needham & Company LLC cut their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Evercore ISI raised their target price on shares of Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.80.

Astera Labs Trading Up 28.7%

NASDAQ ALAB opened at $174.39 on Monday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $183.62. The company has a fifty day simple moving average of $102.68 and a two-hundred day simple moving average of $86.73. The stock has a market cap of $28.76 billion, a P/E ratio of 311.41, a P/E/G ratio of 6.36 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $191.93 million during the quarter, compared to analyst estimates of $172.46 million. Astera Labs had a return on equity of 9.95% and a net margin of 16.54%. The firm’s quarterly revenue was up 149.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. As a group, sell-side analysts forecast that Astera Labs will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Sanjay Gajendra sold 165,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $98.25, for a total transaction of $16,211,250.00. Following the completion of the transaction, the chief operating officer directly owned 735,000 shares of the company’s stock, valued at $72,213,750. This represents a 18.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 500,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00. Following the transaction, the chief financial officer owned 618,996 shares in the company, valued at $55,852,009.08. This trade represents a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,941,759 shares of company stock valued at $183,714,281.

Hedge Funds Weigh In On Astera Labs

Large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Astera Labs by 2,824.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company’s stock valued at $20,467,000 after acquiring an additional 149,240 shares in the last quarter. Pacific Point Advisors LLC increased its position in shares of Astera Labs by 75.0% during the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company’s stock worth $418,000 after purchasing an additional 3,000 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Astera Labs by 73.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company’s stock valued at $954,000 after purchasing an additional 6,783 shares during the last quarter. Taylor Frigon Capital Management LLC purchased a new position in Astera Labs in the 1st quarter valued at $1,887,000. Finally, Cetera Investment Advisers acquired a new stake in Astera Labs during the 4th quarter worth $460,000. 60.47% of the stock is currently 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.