Astera Labs (NASDAQ:ALAB) Releases Q4 2024 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.250-0.260 for the period, compared to the consensus earnings per share estimate of 0.180. The company issued revenue guidance of $126.0 million-$130.0 million, compared to the consensus revenue estimate of $108.4 million. Astera Labs also updated its Q4 guidance to $0.25-$0.26 EPS.

Astera Labs Price Performance

Shares of Astera Labs stock traded down $1.15 during trading on Wednesday, hitting $94.76. 10,009,418 shares of the company’s stock traded hands, compared to its average volume of 2,932,858. The firm’s fifty day moving average price is $55.90 and its 200 day moving average price is $58.11. Astera Labs has a twelve month low of $36.22 and a twelve month high of $97.35.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, research analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays lifted their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI decreased their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $92.36.

Insider Activity

In other news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction that occurred 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 owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs 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 directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares in the company, valued at $8,451,530. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock valued at $31,970,841 over the last 90 days.

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.