Astera Labs (NASDAQ:ALAB) Cut to Hold at Northland Capmk

Northland Capmk cut shares of Astera Labs (NASDAQ:ALAB) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also recently commented on ALAB. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their target price on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Stifel Nicolaus increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup began coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs Price Performance

ALAB opened at $140.93 on Thursday. The stock has a fifty day moving average price of $109.63 and a 200 day moving average price of $71.59. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.36.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s quarterly revenue was up 47.1% on a year-over-year basis. Research analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was 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 of the company’s stock, valued at $8,451,530. This trade represents a 2.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in Astera Labs during the second quarter worth about $8,361,000. Rhumbline Advisers bought a new position in shares of Astera Labs in the second quarter worth $1,009,000. Victory Capital Management Inc. purchased a new stake in shares of Astera Labs in the second quarter worth $815,000. Ground Swell Capital LLC bought a new stake in Astera Labs during the second quarter valued at $524,000. Finally, Massachusetts Financial Services Co. MA grew its position in Astera Labs by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after buying an additional 2,343 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.