Astera Labs (ALAB) to Release Quarterly Earnings on Tuesday

Astera Labs (NASDAQ:ALAB - Get Free Report) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Astera Labs to post earnings of $0.04 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

Astera Labs Trading Down 1.1 %

Shares of NASDAQ ALAB traded down $0.94 during trading hours on Tuesday, hitting $84.76. 1,937,298 shares of the stock were exchanged, compared to its average volume of 2,982,880. Astera Labs has a 1-year low of $50.61 and a 1-year high of $95.21.

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar acquired 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director now directly owns 165,000 shares of the company's stock, valued at $5,940,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several brokerages recently commented on ALAB. Morgan Stanley began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an "overweight" rating and a $81.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an "overweight" rating and a $85.00 price objective for the company. Stifel Nicolaus started coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a "buy" rating and a $81.00 price objective for the company. Needham & Company LLC started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a "buy" rating and a $85.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a "buy" rating and a $85.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $86.09.

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.