Astera Labs (NASDAQ:ALAB) Cut to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of Astera Labs (NASDAQ:ALAB) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $142.00 price objective on the stock.

ALAB has been the topic of several other research reports. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $100.00 to $120.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Astera Labs Stock Performance

Shares of ALAB stock opened at $123.73 on Tuesday. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The firm’s 50 day moving average price is $121.72 and its 200-day moving average price is $78.06.

Astera Labs (NASDAQ:ALAB) last released 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 during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. On average, research analysts forecast that Astera Labs will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares in the company, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last quarter.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently modified their holdings of the stock. Strategic Blueprint LLC increased its stake in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the period. GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the period. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the fourth quarter worth about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Astera Labs in the 4th quarter valued at approximately $42,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.