Analysts Set Astera Labs, Inc. (NASDAQ:ALAB) Price Target at $86.09

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been assigned an average rating of “Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $86.09.

ALAB has been the topic of several research reports. Stifel Nicolaus started coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $81.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Astera Labs in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. started coverage on Astera Labs in a research report on Monday, April 15th. They set an “overweight” rating and a $85.00 target price on the stock. Finally, Morgan Stanley started coverage on Astera Labs in a research report on Monday, April 15th. They set an “overweight” rating and a $81.00 target price on the stock.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $59.34 on Friday. The firm has a 50-day moving average of $68.46. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.14) by ($1.62). The business had revenue of $65.26 million during the quarter, compared to the consensus estimate of $56.65 million. Equities research analysts anticipate that Astera Labs will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rokos Capital Management LLP acquired a new position in Astera Labs in the first quarter valued at approximately $1,484,000. Janus Henderson Group PLC acquired a new position in Astera Labs in the first quarter valued at approximately $20,025,000. Blackstone Inc. acquired a new position in Astera Labs in the first quarter valued at approximately $9,200,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the first quarter worth approximately $37,095,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the first quarter worth approximately $44,514,000.

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.