Astera Labs (NASDAQ:ALAB) Price Target Raised to $110.00 at JPMorgan Chase & Co.

Astera Labs (NASDAQ:ALAB) had its price objective raised by JPMorgan Chase & Co. from $70.00 to $110.00 in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Roth Mkm reduced their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their target price on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Stock Performance

Shares of ALAB opened at $95.91 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $97.35. The stock has a fifty day moving average price of $55.90 and a 200 day moving average price of $58.11.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities analysts forecast that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now directly owns 137,000 shares of the company’s stock, valued at $8,451,530. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were 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 in the company, valued at approximately $8,451,530. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,458 shares of company stock valued at $31,970,841.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALAB. Hollencrest Capital Management acquired a new stake in Astera Labs during the third quarter valued at approximately $26,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth $46,000. Allworth Financial LP grew its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Astera Labs during the second quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter.

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.