Astera Labs (NASDAQ:ALAB) PT Lowered to $70.00 at Barclays

Astera Labs (NASDAQ:ALAB) had its price objective lowered by research analysts at Barclays from $85.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 84.99% from the company’s previous close.

ALAB has been the topic of a number of other reports. Roth Mkm cut their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley began coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $81.00 target price for the company. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus decreased their target price on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Astera Labs Trading Down 10.9 %

Shares of ALAB stock traded down $4.64 during mid-day trading on Wednesday, hitting $37.84. The stock had a trading volume of 3,769,390 shares, compared to its average volume of 2,178,514. Astera Labs has a 12-month low of $36.57 and a 12-month high of $95.21. The stock has a 50-day moving average of $56.94.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts predict that Astera Labs will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Legato Capital Management LLC purchased a new position in shares of Astera Labs during the 2nd quarter valued at $207,000. Alpine Global Management LLC bought a new stake in Astera Labs in the first quarter valued at about $272,000. Strategic Blueprint LLC bought a new stake in Astera Labs in the second quarter valued at about $332,000. Central Pacific Bank Trust Division bought a new stake in Astera Labs during the first quarter worth about $402,000. Finally, Great Valley Advisor Group Inc. bought a new stake in Astera Labs during the second quarter worth about $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.