Astera Labs (NASDAQ:ALAB) Given “Buy” Rating at Needham & Company LLC

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $140.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 35.54% from the company’s current price.

A number of other equities research analysts have also weighed in on ALAB. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Roth Mkm boosted 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. Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley cut their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $113.67.

Astera Labs Stock Up 2.0 %

Shares of ALAB opened at $103.29 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a 50 day simple moving average of $122.39 and a two-hundred day simple moving average of $82.15.

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

Insiders Place Their Bets

In related 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 value of $17,857,351.47. Following the sale, 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 Securities & Exchange Commission, which is available at this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock worth $86,427,256 over the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of 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 last quarter. Jennison Associates LLC bought a new position in Astera Labs during the 4th quarter valued at approximately $229,991,000. JPMorgan Chase & Co. raised its stake in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after buying an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. 60.47% of the stock is currently 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.