Astera Labs (NASDAQ:ALAB) Price Target Lowered to $114.00 at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its target price cut by Morgan Stanley from $142.00 to $114.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on ALAB. 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 report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.42.

Astera Labs Price Performance

Shares of ALAB opened at $89.63 on Tuesday. The business’s 50 day moving average price is $122.86 and its 200-day moving average price is $79.28. Astera Labs has a 52 week low of $36.22 and a 52 week 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 the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, analysts forecast that Astera Labs will post -0.45 EPS for the current year.

Insider Transactions at Astera Labs

In related news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 in the last three months.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALAB. Fred Alger Management LLC boosted its holdings in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new position in shares of Astera Labs during the 4th quarter valued at about $229,991,000. Westfield Capital Management Co. LP bought a new position in shares of Astera Labs during the 3rd quarter valued at about $52,049,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after purchasing an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new position in shares of Astera Labs during the 3rd quarter valued at about $38,565,000. Institutional investors own 60.47% of the company’s stock.

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.