Shares of Astera Labs (NASDAQ:ALAB) fell 1.5%

Astera Labs, Inc. stock price (NASDAQ:ALAB – Get Free Report ) was down 1.5% during mid-day trading on Thursday. The company traded as high as $39.51 and last traded at $40.06. During trading, 290,664 shares were traded, down 87% from the session’s average volume of 2,269,061 shares. Shares previously closed at $40.66.

Analyst upgrades and downgrades

ALAB has been the subject of several analyst reports. Morgan Stanley cut their price target on Astera Labs from $85.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Craig Hallum reduced their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. 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 research report on Wednesday, August 7th. Finally, Needham & Company LLC cut their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. August 7. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.36, based on data from MarketBeat.com.

See the latest stock report on Astera Labs

Astera Labs Price Performance

The stock’s fifty-day moving average price is $50.76.

Astera Labs (NASDAQ:ALAB – Get Your Free Report ) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue was up 17.8% compared to the same quarter last year. On average, analysts estimate that Astera Labs, Inc. will post -0.56 EPS for the current year.

Institutional investors are weighing in on Astera Labs

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Astera Labs in the first quarter worth about $18,666,000. Seven Grand Managers LLC bought a new stake in shares of Astera Labs in the 1st quarter worth approximately $3,710,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Astera Labs in the 1st quarter worth approximately $1,886,000. Amazon Com Inc. bought a new position in Astera Labs in the first quarter valued at approximately $20,608,000. Finally, Capstone Investment Advisors LLC bought a new stake in Astera Labs in the first quarter worth $4,629,000.

Astera Labs Company Profile

(Get a free report)

Astera Labs, Inc designs, manufactures and sells semiconductor-based connectivity solutions for cloud infrastructure and AI. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network and memory connectivity products that are built on a unifying software-defined architecture that enables customers to deploy and operate high-performance cloud and AI infrastructure at scale .

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