Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Update

Astera Labs, Inc. (NASDAQ:ALAB) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 8,050,000 shares, a decline of 20.0% from the December 31st total of 10,060,000 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily trading volume, of 5,030,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALAB. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $107.42.

Insider Transactions at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the sale, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last quarter.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter valued at $26,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new stake in Astera Labs in the 4th quarter valued at about $42,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. bought a new stake in Astera Labs in the third quarter valued at approximately $49,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Up 7.1 %

NASDAQ:ALAB opened at $96.87 on Friday. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The business has a 50 day moving average price of $122.61 and a two-hundred day moving average price of $79.60.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, research analysts expect that Astera Labs will post -0.45 EPS for the current 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.