Astera Labs (NASDAQ:ALAB) Updates Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.25-$0.26 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI reduced their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased 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. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $92.36.

Astera Labs Stock Performance

NASDAQ ALAB traded down $1.93 on Wednesday, hitting $93.98. 7,923,101 shares of the stock were exchanged, compared to its average volume of 2,919,819. The business’s fifty day moving average is $55.90 and its 200 day moving average is $58.11. Astera Labs has a 52 week low of $36.22 and a 52 week high of $97.35.

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

Insider Activity

In other news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety 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.