Astera Labs (NASDAQ:ALAB) Given New $100.00 Price Target at Stifel Nicolaus

Astera Labs (NASDAQ:ALAB) had its price objective increased by Stifel Nicolaus from $80.00 to $100.00 in a research report sent to investors on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on ALAB. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum upped their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Roth Mkm decreased their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average price target of $92.36.

Astera Labs Stock Up 37.7 %

Shares of NASDAQ:ALAB opened at $95.91 on Tuesday. The company has a 50 day moving average of $55.90 and a 200 day moving average of $58.11. Astera Labs has a 12 month low of $36.22 and a 12 month high of $97.35.

Astera Labs (NASDAQ:ALAB) last released 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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, research analysts expect 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 company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. This trade 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 accessible through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

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

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.