Astera Labs (NASDAQ:ALAB) Earns “Buy” Rating from Needham & Company LLC

by · The Markets Daily

Needham & Company LLC reaffirmed their buy rating on shares of Astera Labs (NASDAQ:ALAB – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $65.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Evercore ISI cut their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on Astera Labs from $87.00 to $80.00 and set a buy rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Astera Labs from $95.00 to $70.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Finally, Craig Hallum reduced their price target on shares of Astera Labs from $90.00 to $75.00 and set a buy rating for the company in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has an average rating of Buy and an average price target of $73.09.

Get Our Latest Stock Analysis on Astera Labs

Astera Labs Trading Up 0.9 %

ALAB opened at $66.69 on Wednesday. The stock has a 50-day moving average of $45.84 and a 200-day moving average of $58.53. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21.

Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Astera Labs news, CFO Michael Truett Tate sold 100,000 shares of Astera Labs stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,762,888 shares of the company’s stock, valued at approximately $109,351,942.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,791 shares of company stock worth $20,840,158 over the last quarter.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently added to or reduced their stakes in ALAB. Allspring Global Investments Holdings LLC acquired a new stake in shares of Astera Labs during the first quarter worth approximately $18,666,000. Amazon Com Inc. acquired a new stake in Astera Labs during the 1st quarter valued at $20,608,000. Capstone Investment Advisors LLC bought a new position in Astera Labs in the 1st quarter valued at $4,629,000. Jennison Associates LLC acquired a new position in Astera Labs in the first quarter worth $11,283,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Astera Labs during the first quarter worth $2,515,000.

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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