Astera Labs, Inc. (NASDAQ:ALAB) Stock Has Average Target Price of $340.79

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are presently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $340.79.

ALAB has been the topic of several recent analyst reports. Zacks Research lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. UBS Group reissued a “neutral” rating and issued a $425.00 price target on shares of Astera Labs in a research note on Wednesday, August 5th. Citigroup downgraded shares of Astera Labs from a “buy” rating to a “hold” rating in a report on Friday, October 9th. TD Cowen reduced their price target on shares of Astera Labs from $375.00 to $300.00 and set a “hold” rating on the stock in a research report on Monday, October 19th. Finally, Roth Capital reiterated a “buy” rating and issued a $450.00 price objective on shares of Astera Labs in a report on Wednesday, August 5th.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 6,801 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $340.50, for a total transaction of $2,315,740.50. Following the completion of the sale, the general counsel owned 96,542 shares in the company, valued at $32,872,551. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jitendra Mohan sold 90,630 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.35, for a total value of $30,845,920.50. Following the completion of the transaction, the chief executive officer directly owned 1,266,665 shares of the company’s stock, valued at $431,109,432.75. This trade represents a 6.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 408,558 shares of company stock worth $127,306,034 over the last three months. 10.40% of the stock is owned by insiders.

Institutional Trading of Astera Labs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Greenleaf Trust boosted its stake in shares of Astera Labs by 1.8% during the second quarter. Greenleaf Trust now owns 2,000 shares of the company’s stock valued at $966,000 after acquiring an additional 36 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Astera Labs by 74.5% during the second quarter. Parkside Financial Bank & Trust now owns 96 shares of the company’s stock worth $46,000 after purchasing an additional 41 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of Astera Labs by 4.8% in the third quarter. Integrated Advisors Network LLC now owns 983 shares of the company’s stock valued at $350,000 after purchasing an additional 45 shares during the period. Interchange Capital Partners LLC grew its position in shares of Astera Labs by 4.4% in the third quarter. Interchange Capital Partners LLC now owns 1,187 shares of the company’s stock valued at $423,000 after purchasing an additional 50 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of Astera Labs by 2.7% in the first quarter. Glenmede Trust Co. NA now owns 1,909 shares of the company’s stock valued at $209,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $229.67 on Tuesday. The firm has a 50-day simple moving average of $307.01 and a two-hundred day simple moving average of $255.22. The company has a market cap of $39.85 billion, a P/E ratio of 113.70 and a beta of 3.68. Astera Labs has a fifty-two week low of $97.89 and a fifty-two week high of $499.48.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The firm had revenue of $392.40 million for the quarter, compared to analyst estimates of $360.85 million. During the same period last year, the company posted $0.44 EPS. Astera Labs’s quarterly revenue was up 104.5% compared to the same quarter last year. Equities research analysts forecast that Astera Labs will post 2.71 EPS for the current year.

About Astera Labs

Astera Labs, Inc is a semiconductor and connectivity solutions company that develops hardware and software for data centers, cloud computing, and artificial intelligence infrastructure. Its products are designed to help move data between processors, memory, storage, and networking components while addressing bandwidth, latency, and system-management requirements.

The company’s portfolio includes Aries PCI Express and Compute Express Link (CXL) Smart Retimers, Taurus Ethernet Smart Cable Modules, Scorpio Smart Fabric Switches, and Leo CXL Memory Connectivity Controllers.