Astera Labs (NASDAQ:ALAB) Trading 2.8% Higher – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB)’s share price traded up 2.8% during mid-day trading on Friday . The stock traded as high as $139.41 and last traded at $138.37. 782,994 shares traded hands during trading, a decline of 59% from the average session volume of 1,916,771 shares. The stock had previously closed at $134.63.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their target price on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $100.00 to $120.00 in a research report on Thursday. Finally, Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Trading Up 3.5 %

The firm has a 50-day moving average price of $108.26 and a 200 day moving average price of $71.06.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results 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 business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the transaction, the director now owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in shares of Astera Labs during the second quarter valued at $8,361,000. Rhumbline Advisers bought a new stake in Astera Labs during the 2nd quarter worth approximately $1,009,000. Victory Capital Management Inc. purchased a new position in Astera Labs during the second quarter valued at approximately $815,000. Ground Swell Capital LLC purchased a new stake in shares of Astera Labs in the second quarter worth $524,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares during the period. 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.