Astera Labs (NASDAQ:ALAB) Price Target Raised to $125.00 at Craig Hallum

Astera Labs (NASDAQ:ALAB) had its price target boosted by equities researchers at Craig Hallum from $105.00 to $125.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price would indicate a potential upside of 42.86% from the stock’s current price.

ALAB has been the subject of several other research reports. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average target price of $115.33.

Astera Labs Price Performance

Shares of ALAB opened at $87.50 on Tuesday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39. The business’s 50 day moving average price is $121.90 and its two-hundred day moving average price is $82.86.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. As a group, research analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the transaction, the director now directly owns 6,148 shares of the company’s stock, valued at $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares in the company, valued at $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 846,452 shares of company stock valued at $86,427,256.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently bought and sold shares of ALAB. Landscape Capital Management L.L.C. bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $555,000. Arete Wealth Advisors LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $1,053,000. Massachusetts Financial Services Co. MA raised its position in shares of Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock valued at $221,721,000 after purchasing an additional 1,351,007 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of Astera Labs during the 4th quarter valued at $8,675,000. Finally, Trexquant Investment LP bought a new position in Astera Labs in the 4th quarter worth $9,941,000. 60.47% of the stock is owned by 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.