Astera Labs (NASDAQ:ALAB) Issues Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.25-$0.26 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Analysts Set New Price Targets

ALAB has been the subject of several recent analyst reports. Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stifel Nicolaus increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI decreased their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays upped their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus price target of $92.36.

Astera Labs Trading Down 1.2 %

NASDAQ:ALAB traded down $1.21 during trading hours on Thursday, reaching $96.96. The company’s stock had a trading volume of 3,680,837 shares, compared to its average volume of 2,970,872. Astera Labs has a one year low of $36.22 and a one year high of $99.84. The business’s 50-day moving average is $57.00 and its 200-day moving average is $58.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock worth $31,970,841 over the last 90 days.

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.