Astera Labs (NASDAQ:ALAB) Sees Large Volume Increase – Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB) saw strong trading volume on Friday . 2,784,308 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 2,661,276 shares.The stock last traded at $69.63 and had previously closed at $66.11.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI reduced their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Morgan Stanley upped their target price on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Craig Hallum reduced their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $73.09.

Astera Labs Trading Up 0.9 %

The firm’s 50-day simple moving average is $45.84 and its two-hundred day simple moving average is $58.36.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,791 shares of company stock worth $20,840,158 over the last ninety days.

Institutional Trading of Astera Labs

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in Astera Labs during the first quarter worth approximately $127,268,000. Capital World Investors purchased a new position in Astera Labs during the first quarter worth approximately $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in Astera Labs during the first quarter worth approximately $44,514,000. Bamco Inc. NY purchased a new position in shares of Astera Labs in the 1st quarter valued at $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Astera Labs during the 1st quarter valued at $33,141,000.

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.