Astera Labs (NASDAQ:ALAB) Issues Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.25-$0.26 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Barclays lowered their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut 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. Finally, Evercore ISI reduced their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.09.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded down $3.00 during trading on Monday, reaching $69.65. The stock had a trading volume of 4,968,718 shares, compared to its average volume of 2,749,148. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The business has a fifty day moving average price of $54.88 and a 200-day moving average price of $57.89.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts expect that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock valued at $31,970,841 over the last three months.

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.