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 published on Tuesday morning, Marketbeat Ratings reports. They currently have $142.00 price objective on the stock.

ALAB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Price Performance

NASDAQ ALAB opened at $123.73 on Tuesday. The stock’s fifty day moving average price is $121.72 and its 200 day moving average price is $78.06. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Investors Weigh In On Astera Labs

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

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.