JPMorgan Chase & Co. Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its target price upped by JPMorgan Chase & Co. from $70.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.13% from the company’s current price.

A number of other brokerages have also weighed in on ALAB. Roth Mkm reduced their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley increased their price target on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays boosted their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $86.45.

Astera Labs Price Performance

ALAB stock traded up $21.92 during trading on Tuesday, reaching $91.57. 9,468,139 shares of the stock were exchanged, compared to its average volume of 2,792,196. The business has a 50 day moving average price of $54.88 and a 200-day moving average price of $57.89. Astera Labs has a 1 year low of $36.22 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs will post -0.54 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,458 shares of company stock worth $31,970,841.

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently made changes to their positions in ALAB. Rakuten Securities Inc. acquired a new stake in Astera Labs in the third quarter valued at $291,000. Venturi Wealth Management LLC raised its stake in shares of Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares in the last quarter. Lisanti Capital Growth LLC lifted its position in shares of Astera Labs by 99.2% during the third quarter. Lisanti Capital Growth LLC now owns 59,990 shares of the company’s stock worth $3,143,000 after purchasing an additional 29,875 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after purchasing an additional 321,601 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Astera Labs in the third quarter valued at about $1,113,000.

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.