Astera Labs (NASDAQ:ALAB) Price Target Cut to $114.00 by Analysts at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price target reduced by equities researchers at Morgan Stanley from $142.00 to $114.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 32.16% from the company’s previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Tuesday. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.42.

Astera Labs Trading Up 3.7 %

ALAB traded up $3.10 during trading hours on Tuesday, hitting $86.26. The stock had a trading volume of 5,709,557 shares, compared to its average volume of 4,685,289. The company’s fifty day simple moving average is $122.86 and its 200 day simple moving average is $79.28. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, research analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Truett Tate sold 7,398 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $671,812.38. Following the completion of the sale, the chief financial officer now directly owns 286,424 shares in the company, valued at approximately $26,010,163.44. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Blueprint LLC lifted its holdings in shares of Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the period. Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter valued at about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Astera Labs in the fourth quarter valued at about $42,000. 60.47% of the stock is owned by institutional investors.

About Astera Labs

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.