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

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $86.09.

Several research analysts recently commented on ALAB shares. Northland Securities started coverage on Astera Labs in a research note on Monday, March 25th. They issued an “outperform” rating and a $85.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley started coverage on Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $81.00 price target on the stock. Jefferies Financial Group started coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Roth Mkm started coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target on the stock.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar acquired 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 165,000 shares in the company, valued at approximately $5,940,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC acquired a new stake in Astera Labs in the first quarter worth approximately $272,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Astera Labs in the first quarter worth approximately $1,484,000. Forge First Asset Management Inc. acquired a new stake in Astera Labs in the first quarter worth approximately $1,143,000. Lord Abbett & CO. LLC acquired a new stake in shares of Astera Labs during the 1st quarter valued at $33,141,000. Finally, Jennison Associates LLC acquired a new stake in shares of Astera Labs during the 1st quarter valued at $11,283,000.

Astera Labs Stock Performance

Shares of ALAB opened at $61.94 on Tuesday. The stock’s 50-day moving average is $71.46. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The business had revenue of $65.26 million during the quarter, compared to the consensus estimate of $56.65 million. As a group, equities research analysts predict that Astera Labs will post -0.56 earnings per share for the current fiscal year.

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.