Astera Labs (NASDAQ:ALAB) Price Target Raised to $94.00 at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its target price hoisted by Morgan Stanley from $74.00 to $94.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 1.44% from the stock’s current price.

Other research analysts have also issued research reports about the company. Evercore ISI reduced their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Stifel Nicolaus raised their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Up 36.9 %

NASDAQ ALAB traded up $25.72 during trading on Tuesday, reaching $95.37. 17,474,133 shares of the company’s stock were exchanged, compared to its average volume of 2,842,548. The company has a 50 day moving average price of $54.88 and a two-hundred day moving average price of $57.89. Astera Labs has a 1 year low of $36.22 and a 1 year high of $96.42.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. On average, analysts forecast that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction 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 sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 over the last three months.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new position in Astera Labs in the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new position in Astera Labs during the third quarter worth $46,000. Allworth Financial LP boosted its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares in the last quarter. Amalgamated Bank bought a new position in Astera Labs during the second quarter worth $74,000. Finally, Venturi Wealth Management LLC raised its holdings in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after buying an additional 500 shares during the last quarter.

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.