Stifel Nicolaus Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price objective boosted by Stifel Nicolaus from $100.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $100.00 to $120.00 in a research report on Thursday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Astera Labs Stock Down 2.1 %

Astera Labs stock opened at $130.77 on Monday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a fifty day simple moving average of $113.38 and a 200 day simple moving average of $73.15.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,850,119 shares of company stock worth $178,711,939 in the last quarter.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Astera Labs by 0.7% during the 3rd 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 during the last quarter. Fred Alger Management LLC grew its holdings in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Maverick Capital Ltd. grew its holdings in Astera Labs by 16.0% during the 3rd 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 during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Astera Labs during the 3rd quarter worth approximately $52,049,000. 60.47% of the stock is 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.