Astera Labs, Inc. (NASDAQ:ALAB) Sees Significant Decrease in Short Interest

Astera Labs, Inc. (NASDAQ:ALAB) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 8,910,000 shares, a decline of 16.3% from the October 31st total of 10,640,000 shares. Based on an average daily volume of 4,670,000 shares, the short-interest ratio is currently 1.9 days. Approximately 7.8% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of analysts have commented on ALAB shares. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Craig Hallum upped their price target 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. Finally, Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Insiders Place Their Bets

In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 173,366 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the transaction, the chief executive officer now owns 600,000 shares in the company, valued at $66,072,000. The trade was a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,897,820 shares of company stock worth $168,252,298.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Strategic Blueprint LLC grew its holdings in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after buying an additional 284 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth $26,000. Venturi Wealth Management LLC increased its holdings in shares of Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after buying an additional 500 shares during the last quarter. Finally, US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter worth $46,000.

Astera Labs Stock Up 3.7 %

ALAB stock opened at $103.25 on Monday. The company has a 50 day moving average price of $75.22 and a two-hundred day moving average price of $60.88. Astera Labs has a one year low of $36.22 and a one year high of $113.85.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS 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 during the quarter, compared to the consensus estimate of $97.50 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. On average, sell-side analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

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.