Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) PT at $71.36

by · The Markets Daily

Shares of Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) have been given an average recommendation of “Buy” by the eleven ratings firms that are covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $71.36.

ALAB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays dropped their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Wednesday, September 4th. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Roth Mkm dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Read Our Latest Report on ALAB

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael Truett Tate sold 50,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $47.98, for a total value of $2,399,000.00. Following the completion of the sale, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,090 shares of company stock worth $4,445,659.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in Astera Labs in the 2nd quarter worth $74,000. Massachusetts Financial Services Co. MA boosted its stake in Astera Labs by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after purchasing an additional 2,343 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after purchasing an additional 2,980 shares during the period. Legato Capital Management LLC acquired a new position in Astera Labs in the 2nd quarter worth $207,000. Finally, Alpine Global Management LLC acquired a new position in shares of Astera Labs during the 1st quarter worth about $272,000.

Astera Labs Stock Performance

Shares of ALAB opened at $46.44 on Thursday. Astera Labs has a one year low of $36.22 and a one year high of $95.21. The stock has a 50 day simple moving average of $44.51.

Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% on a year-over-year basis. On average, sell-side analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Astera Labs Company Profile

(Get Free Report

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.

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