Astera Labs (NASDAQ:ALAB) Releases Earnings Results

Astera Labs (NASDAQ:ALAB) announced its quarterly earnings data on Monday. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06, Briefing.com reports. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Astera Labs updated its Q4 guidance to $0.25-$0.26 EPS and its Q4 2024 guidance to 0.250-0.260 EPS.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $95.91 on Wednesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $97.35. The company’s fifty day moving average is $55.90 and its two-hundred day moving average is $58.11.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 564,458 shares of company stock valued at $31,970,841.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALAB. JPMorgan Chase & Co. increased their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays increased their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $92.36.

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.