Astera Labs Sees Unusually Large Options Volume (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) saw some unusual options trading on Thursday. Stock investors bought 20,081 call options on the company. This is an increase of 72% compared to the typical volume of 11,659 call options.

Analyst Ratings Changes

A number of analysts have issued reports on the company. William Blair assumed coverage on Astera Labs in a research report on Thursday, May 22nd. They issued an "outperform" rating for the company. Citigroup cut their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Susquehanna started coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Stock Down 5.9%

Shares of NASDAQ ALAB traded down $5.93 during midday trading on Thursday, reaching $93.93. The company had a trading volume of 3,045,380 shares, compared to its average volume of 4,332,701. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The stock has a market cap of $15.49 billion, a PE ratio of 428.67, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. The firm's fifty day moving average price is $89.42 and its 200-day moving average price is $89.10.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The firm had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, equities research analysts expect that Astera Labs will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, COO Sanjay Gajendra sold 76,373 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $98.39, for a total transaction of $7,514,339.47. Following the completion of the sale, the chief operating officer directly owned 715,000 shares of the company's stock, valued at approximately $70,348,850. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bethany Mayer sold 686 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $87.47, for a total value of $60,004.42. Following the sale, the director directly owned 6,238 shares of the company's stock, valued at $545,637.86. The trade was a 9.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,782,720 shares of company stock valued at $160,506,999 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALAB. Proficio Capital Partners LLC grew its stake in shares of Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after buying an additional 390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Astera Labs by 2,824.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock valued at $20,467,000 after buying an additional 149,240 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Pacific Point Advisors LLC increased its stake in shares of Astera Labs by 75.0% in the 1st quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Astera Labs by 73.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after purchasing an additional 6,783 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

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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