Analysts Set Astera Labs, Inc. (NASDAQ:ALAB) PT at $115.33

Astera Labs, Inc. (NASDAQ:ALAB) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $115.33.

Several research firms recently commented on ALAB. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th.

Astera Labs Trading Up 4.2 %

Shares of NASDAQ:ALAB opened at $68.82 on Thursday. The company has a 50 day moving average of $100.37 and a 200-day moving average of $87.96. The firm has a market cap of $11.16 billion and a P/E ratio of -39.78. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities research analysts forecast that Astera Labs will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 570,990 shares of company stock worth $50,242,702.

Institutional Investors Weigh In On Astera Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new position in shares of Astera Labs during the 3rd quarter valued at $46,000. Van ECK Associates Corp bought a new position in shares of Astera Labs during the 3rd quarter valued at $462,000. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter valued at $26,000. Proficio Capital Partners LLC bought a new position in shares of Astera Labs during the 3rd quarter valued at $1,113,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Astera Labs by 158,424.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock valued at $16,859,000 after purchasing an additional 321,601 shares in the last quarter. Hedge funds and other 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.