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After Astera Labs announced its third-quarter results, analysts lowered their price targets for the stock.

ResultsRead the original at Benzinga
Good for ALAB

Astera Labs beat sales and adjusted profit estimates, then forecast fourth-quarter sales and adjusted profit above estimates. Analysts cut price targets but kept their ratings, and the strong results and forecast weigh more heavily.

ALAB · Astera Labs Inc

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The CEO said design activity accelerated across customer programs and named new products for AI and general-purpose memory. That supports the company’s strong next-quarter forecast. Analysts cut their price targets but kept their ratings unchanged. Those cuts temper the news, but the company’s results and forecast point more clearly to growth.

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