Wall Street Zen upgraded shares of Astera Labs (NASDAQ:ALAB – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.
A number of other analysts have also recently weighed in on ALAB. Morgan Stanley increased their price objective on Astera Labs from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Susquehanna increased their price target on Astera Labs from $80.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Zacks Research upgraded shares of Astera Labs to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.13.
View Our Latest Stock Analysis on ALAB
Astera Labs Price Performance
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The business had revenue of $191.93 million during the quarter, compared to analysts’ expectations of $172.46 million. During the same period in the prior year, the company earned $0.13 earnings per share. The business’s revenue was up 149.5% compared to the same quarter last year. Sell-side analysts expect that Astera Labs will post 0.34 EPS for the current fiscal year.
Insider Buying and Selling at Astera Labs
In related news, COO Sanjay Gajendra sold 280,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $170.02, for a total transaction of $47,605,600.00. Following the completion of the sale, the chief operating officer directly owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer directly owned 618,996 shares in the company, valued at $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,176,436 shares of company stock valued at $259,714,061 in the last 90 days. 12.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Astera Labs
Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Geneos Wealth Management Inc. grew its stake in Astera Labs by 121.2% during the second quarter. Geneos Wealth Management Inc. now owns 8,920 shares of the company’s stock worth $807,000 after buying an additional 4,887 shares during the last quarter. Caxton Associates LLP bought a new stake in Astera Labs during the 2nd quarter worth about $14,807,000. Castleark Management LLC bought a new position in Astera Labs in the second quarter valued at approximately $5,564,000. Public Sector Pension Investment Board grew its stake in shares of Astera Labs by 196.0% during the second quarter. Public Sector Pension Investment Board now owns 296,000 shares of the company’s stock worth $26,764,000 after purchasing an additional 196,000 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Astera Labs by 506.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,486 shares of the company’s stock valued at $225,000 after acquiring an additional 2,076 shares during the last quarter. 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.
Read More
- Five stocks we like better than Astera Labs
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Insiders Trade Millions in NVIDIA-Linked Navitas, Hims, & Shift4
- Pros And Cons Of Monthly Dividend Stocks
- Why Datadog Is the AI Infrastructure Firm to Watch Out For
- Earnings Per Share Calculator: How to Calculate EPS
- 4 Stocks Every AI ETF Is Buying—And They’re Not What You Think
Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.