Astera Labs (NASDAQ:ALAB) Price Target Raised to $94.00 at Morgan Stanley

Astera Labs (NASDAQ:ALAB) had its price objective increased by analysts at Morgan Stanley from $74.00 to $94.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 1.44% from the company’s previous close.

A number of other brokerages have also recently commented on ALAB. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Barclays upped their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $92.36.

Astera Labs Trading Up 36.9 %

Astera Labs stock traded up $25.72 during mid-day trading on Tuesday, hitting $95.37. 17,474,133 shares of the company traded hands, compared to its average volume of 2,842,548. Astera Labs has a one year low of $36.22 and a one year high of $96.42. The stock has a fifty day moving average price of $54.88 and a 200-day moving average price of $57.89.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. Analysts expect that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction 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 completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction on 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 transaction, 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 can be accessed through this hyperlink. Also, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth about $46,000. Allworth Financial LP raised its position in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Astera Labs in the second quarter valued at approximately $74,000. Finally, Venturi Wealth Management LLC raised its position in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after buying an additional 500 shares during the last quarter.

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.