Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) was the recipient of some unusual options trading on Friday. Stock traders acquired 20,176 call options on the company. This is an increase of approximately 61% compared to the average daily volume of 12,513 call options.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. William Blair assumed coverage on Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Barclays upped their target price on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus decreased their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a report on Monday, May 12th. Finally, Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $100.00.
Check Out Our Latest Stock Report on Astera Labs
Insider Activity
In other news, CFO Michael Truett Tate sold 500,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the sale, the chief financial officer now owns 618,996 shares of the company's stock, valued at approximately $55,852,009.08. This represents a 44.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the sale, the insider now directly owns 755,000 shares of the company's stock, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,601,777 shares of company stock valued at $141,082,321.
Institutional Investors Weigh In On Astera Labs
A number of institutional investors have recently modified their holdings of ALAB. Empowered Funds LLC purchased a new stake in shares of Astera Labs in the fourth quarter worth $60,000. Rhumbline Advisers grew its stake in shares of Astera Labs by 371.4% in the fourth quarter. Rhumbline Advisers now owns 99,949 shares of the company's stock worth $13,238,000 after acquiring an additional 78,746 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Astera Labs in the fourth quarter worth $55,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Astera Labs in the fourth quarter worth $2,921,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Astera Labs in the fourth quarter worth $1,388,000. 60.47% of the stock is owned by hedge funds and other institutional investors.
Astera Labs Trading Down 6.5%
ALAB traded down $6.46 during trading on Friday, reaching $93.07. The stock had a trading volume of 8,070,498 shares, compared to its average volume of 4,156,368. The stock's 50 day moving average is $81.64 and its two-hundred day moving average is $91.86. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 423.06, a P/E/G ratio of 4.37 and a beta of 1.39. Astera Labs has a one year low of $36.22 and a one year high of $147.39.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The firm's quarterly revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts predict that Astera Labs will post 0.34 earnings per share for the current year.
Astera Labs Company Profile
(
Get Free Report)
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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