Astera Labs (NASDAQ:ALAB) Given New $74.00 Price Target at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price target upped by Morgan Stanley from $55.00 to $74.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on ALAB. Needham & Company LLC reduced their price objective on Astera Labs from $85.00 to $65.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Astera Labs from $85.00 to $60.00 and set a buy rating for the company in a report on Wednesday, August 7th. Craig Hallum lowered their price objective on shares of Astera Labs from $90.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Finally, Roth Mkm lowered their price target on shares of Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $73.09.

Astera Labs Price Performance

Astera Labs stock opened at $66.69 on Wednesday. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The firm’s 50 day simple moving average is $45.84 and its 200-day simple moving average is $58.36.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts forecast that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now owns 137,000 shares of the company’s stock, valued at $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now directly owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00. Following the completion of the sale, the general counsel now owns 300,564 shares of the company’s stock, valued at approximately $18,256,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,791 shares of company stock worth $20,840,158.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in Astera Labs during the 2nd quarter worth $74,000. Newbridge Financial Services Group Inc. increased its stake in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after purchasing an additional 2,980 shares during the period. Legato Capital Management LLC acquired a new position in shares of Astera Labs during the 2nd quarter worth about $207,000. Alpine Global Management LLC bought a new stake in Astera Labs during the 1st quarter valued at approximately $272,000. Finally, Strategic Blueprint LLC acquired a new stake in Astera Labs in the 2nd quarter valued at approximately $332,000.

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.