Astera Labs (NASDAQ:ALAB) Announces Quarterly Earnings Results

Astera Labs (NASDAQ:ALAB) released its earnings results on Monday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06, Briefing.com reports. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. Astera Labs updated its Q4 guidance to $0.25-$0.26 EPS and its Q4 2024 guidance to 0.250-0.260 EPS.

Astera Labs Stock Performance

ALAB opened at $89.70 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21. The stock’s 50 day moving average price is $54.88 and its 200 day moving average price is $57.89.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALAB shares. Barclays boosted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Roth Mkm reduced their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI lowered their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Craig Hallum raised their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $81.00.

Insider Transactions at Astera Labs

In related news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 564,458 shares of company stock valued at $31,970,841.

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.