Astera Labs (NASDAQ:ALAB) Shares Gap Up – Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $165.19, but opened at $172.31. Astera Labs shares last traded at $178.2080, with a volume of 1,541,747 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALAB shares. Northland Securities set a $175.00 price target on shares of Astera Labs in a research report on Monday, November 17th. Raymond James Financial began coverage on Astera Labs in a report on Friday, November 21st. They issued a “hold” rating for the company. Roth Capital boosted their price target on Astera Labs from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. CICC Research initiated coverage on Astera Labs in a research note on Friday, August 29th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Evercore ISI lifted their price objective on Astera Labs from $104.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.06.

Astera Labs Stock Down 7.6%

The stock has a fifty day moving average of $174.51 and a 200-day moving average of $149.83. The firm has a market capitalization of $25.77 billion, a P/E ratio of 138.01, a PEG ratio of 2.94 and a beta of 1.52.

Insider Buying and Selling

In related news, COO Sanjay Gajendra sold 90,459 shares of Astera Labs stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $13,088,512.71. Following the transaction, the chief operating officer owned 1,599,750 shares of the company’s stock, valued at $231,467,827.50. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jitendra Mohan sold 90,459 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.69, for a total value of $13,088,512.71. Following the completion of the transaction, the chief executive officer owned 2,080,418 shares of the company’s stock, valued at $301,015,680.42. This represents a 4.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 403,936 shares of company stock worth $58,920,200 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Astera Labs

Large investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its position in Astera Labs by 374.1% in the 3rd quarter. Assetmark Inc. now owns 128 shares of the company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Astera Labs in the 2nd quarter valued at about $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Astera Labs in the 2nd quarter valued at about $36,000. National Bank of Canada FI boosted its position in shares of Astera Labs by 159.0% during the third quarter. National Bank of Canada FI now owns 202 shares of the company’s stock worth $39,000 after buying an additional 124 shares during the period. Finally, Wexford Capital LP acquired a new position in shares of Astera Labs during the third quarter worth about $39,000. Institutional investors 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.