Stifel Nicolaus Trims Astera Labs (NASDAQ:ALAB) Target Price to $80.00

Astera Labs (NASDAQ:ALAB) had its price target lowered by Stifel Nicolaus from $87.00 to $80.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Evercore ISI started coverage on Astera Labs in a research note on Tuesday, April 16th. They issued an outperform rating and a $100.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 price target on the stock. Craig Hallum assumed coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $90.00 price objective on the stock. Barclays initiated coverage on Astera Labs in a research report on Monday, April 15th. They issued an overweight rating and a $85.00 target price for the company. Finally, Morgan Stanley started coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $81.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Astera Labs currently has an average rating of Moderate Buy and an average target price of $71.36.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $36.37 on Monday. The firm’s fifty day moving average price is $56.32. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating 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 was up 17.8% on a year-over-year basis. Research analysts expect that Astera Labs will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in Astera Labs in the first quarter valued at approximately $952,000. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter valued at approximately $127,268,000. Forge First Asset Management Inc. bought a new position in shares of Astera Labs during the 1st quarter worth about $1,143,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs during the first quarter worth $44,514,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Astera Labs during the 1st quarter valued at about $18,666,000.

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.