Astera Labs (NASDAQ:ALAB) Stock Price Up 4.7% – Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price was up 4.7% during mid-day trading on Monday . The stock traded as high as $162.49 and last traded at $165.0320. Approximately 1,031,286 shares were traded during trading, a decline of 81% from the average daily volume of 5,292,533 shares. The stock had previously closed at $157.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALAB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Astera Labs in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Astera Labs from $180.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Northland Securities set a $175.00 target price on Astera Labs in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Finally, Citigroup lifted their target price on Astera Labs from $160.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.06.

Astera Labs Stock Up 4.2%

The company has a market cap of $25.15 billion, a P/E ratio of 132.51, a price-to-earnings-growth ratio of 3.08 and a beta of 1.51. The stock’s 50-day moving average price is $172.77 and its 200 day moving average price is $150.19.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 4,620 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $668,467.80. Following the transaction, the general counsel owned 147,040 shares in the company, valued at approximately $21,275,217.60. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 90,459 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 2,080,418 shares in the company, valued at $301,015,680.42. This represents a 4.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 403,936 shares of company stock valued at $58,920,200 over the last ninety days. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Assetmark Inc. lifted its position in shares of Astera Labs by 374.1% during the 3rd quarter. Assetmark Inc. now owns 128 shares of the company’s stock worth $25,000 after buying an additional 101 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Astera Labs during the second quarter valued at $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $36,000. National Bank of Canada FI grew its holdings in shares of Astera Labs by 159.0% in the 3rd quarter. National Bank of Canada FI now owns 202 shares of the company’s stock worth $39,000 after purchasing an additional 124 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in shares of Astera Labs during the 3rd 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.