Astera Labs (NASDAQ:ALAB) Shares Gap Up – What’s Next?

Shares of Astera Labs, Inc. (NASDAQ:ALAB) gapped up prior to trading on Wednesday . The stock had previously closed at $66.05, but opened at $69.91. Astera Labs shares last traded at $70.20, with a volume of 942,913 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lifted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $115.33.

Astera Labs Stock Up 5.6 %

The stock has a market cap of $11.31 billion and a PE ratio of -40.36. The stock’s fifty day moving average price is $101.65 and its 200 day moving average price is $88.10.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 570,990 shares of company stock valued at $50,242,702.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its stake in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. 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.