Astera Labs (NASDAQ:ALAB) Upgraded by Northland Capmk to “Strong-Buy” Rating

Northland Capmk upgraded shares of Astera Labs (NASDAQ:ALAB) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Morgan Stanley lowered their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $107.42.

Astera Labs Trading Up 7.8 %

Astera Labs stock opened at $89.63 on Tuesday. The firm has a 50 day simple moving average of $122.86 and a 200 day simple moving average of $79.28. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released 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. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Analysts anticipate 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, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALAB. Strategic Blueprint LLC increased its position in shares of Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the period. GAMMA Investing LLC grew its holdings in shares of Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the 4th quarter worth approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $42,000. 60.47% of the stock is currently owned by institutional investors.

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.