Astera Labs (NASDAQ:ALAB – Free Report) had its price objective reduced by Roth Mkm from $85.00 to $60.00 in a report issued on Wednesday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an outperform rating on the stock in a research report on Wednesday. Morgan Stanley initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $81.00 price objective for the company. Craig Hallum assumed coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $90.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Astera Labs from $87.00 to $80.00 and set a buy rating for the company in a research report on Monday, August 5th. Finally, Jefferies Financial Group started coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $71.36.
View Our Latest Stock Report on ALAB
Astera Labs Trading Down 0.2 %
Astera Labs (NASDAQ:ALAB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was up 17.8% on a year-over-year basis. On average, research analysts forecast that Astera Labs will post -0.56 EPS for the current year.
Hedge Funds Weigh In On Astera Labs
A number of hedge funds have recently bought and sold shares of the business. Legato Capital Management LLC purchased a new stake in shares of Astera Labs during the 2nd quarter valued at about $207,000. Alpine Global Management LLC purchased a new position in shares of Astera Labs in the first quarter valued at about $272,000. Strategic Blueprint LLC bought a new position in shares of Astera Labs in the second quarter worth about $332,000. Central Pacific Bank Trust Division purchased a new position in shares of Astera Labs in the first quarter worth $402,000. Finally, Great Valley Advisor Group Inc. purchased a new position in Astera Labs during the 2nd quarter valued at approximately $443,000.
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.
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