Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 10,060,000 shares, an increase of 25.1% from the December 15th total of 8,040,000 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average trading volume of 4,970,000 shares, the days-to-cover ratio is currently 2.0 days.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ALAB. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Morgan Stanley lifted their price objective on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Roth Mkm increased 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.75.
Read Our Latest Research Report on Astera Labs
Astera Labs Price Performance
Astera Labs (NASDAQ:ALAB – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, equities research analysts anticipate that Astera Labs will post -0.45 EPS for the current year.
Insider Buying and Selling
In other news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares in the company, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’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 transaction, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,690,452 shares of company stock valued at $167,581,256.
Hedge Funds Weigh In On Astera Labs
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Astera Labs by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Astera Labs during the third quarter valued at about $52,049,000. 60.47% of the stock is currently owned by institutional investors.
About Astera Labs
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.
Further Reading
- Five stocks we like better than Astera Labs
- Earnings Per Share Calculator: How to Calculate EPS
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- Expert Stock Trading Psychology Tips
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.