Astera Labs (NASDAQ:ALAB – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.110-0.110 for the period, compared to the consensus earnings per share estimate of 0.060. The company issued revenue guidance of $71.8 million-$73.1 million, compared to the consensus revenue estimate of $63.8 million.
Astera Labs Price Performance
ALAB opened at $76.19 on Wednesday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.
Wall Street Analysts Forecast Growth
ALAB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft began coverage on Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $85.00 target price on the stock. Jefferies Financial Group started coverage on Astera Labs in a report on Monday, April 15th. They set a buy rating and a $85.00 price objective on the stock. Barclays started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an overweight rating and a $85.00 target price for the company. Stifel Nicolaus began coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $81.00 target price on the stock. Finally, Craig Hallum initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $90.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs has an average rating of Buy and an average target price of $86.09.
Insider Activity
In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
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.
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