Northland Securities Upgrades Astera Labs (NASDAQ:ALAB) to Outperform

Northland Securities upgraded shares of Astera Labs (NASDAQ:ALAB) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $120.00 price target on the stock.

ALAB has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley cut Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price target on the stock. in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $107.42.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $96.87 on Tuesday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a fifty day simple moving average of $122.61 and a two-hundred day simple moving average of $79.60.

Astera Labs (NASDAQ:ALAB) last issued 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 company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities analysts expect that Astera Labs will post -0.45 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at $65,109,499.35. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of ALAB. Renaissance Technologies LLC acquired a new position in shares of Astera Labs in the 2nd quarter worth approximately $1,337,000. Amalgamated Bank bought a new position in Astera Labs during the second quarter worth $74,000. Marshall Wace LLP acquired a new position in Astera Labs in the second quarter worth $2,351,000. Millennium Management LLC increased its stake in Astera Labs by 136.4% during the second quarter. Millennium Management LLC now owns 278,051 shares of the company’s stock valued at $16,825,000 after purchasing an additional 160,417 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Astera Labs during the second quarter worth $341,000. 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.