Astera Labs, Inc. (NASDAQ:ALAB) Receives $86.09 Average Price Target from Analysts

Astera Labs, Inc. (NASDAQ:ALAB) has been given a consensus recommendation of “Buy” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $86.09.

Several equities research analysts recently issued reports on ALAB shares. Roth Mkm started coverage on Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Craig Hallum started coverage on Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $90.00 price objective on the stock. Stifel Nicolaus started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $81.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Evercore ISI started coverage on Astera Labs in a report on Tuesday, April 16th. They set an “outperform” rating and a $100.00 price target on the stock.

Astera Labs Trading Down 1.9 %

ALAB stock opened at $59.34 on Friday. Astera Labs has a 12-month low of $50.61 and a 12-month high of $95.21. The company has a fifty day moving average price of $68.46.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($1.62). The company had revenue of $65.26 million during the quarter, compared to analysts’ expectations of $56.65 million. On average, research analysts expect that Astera Labs will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the 1st quarter worth about $127,268,000. Capital World Investors acquired a new position in shares of Astera Labs during the 1st quarter worth about $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the 1st quarter worth about $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the 1st quarter worth about $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Astera Labs during the 1st quarter worth about $33,141,000.

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.