Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Update

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 10,060,000 shares, an increase of 25.1% from the December 15th total of 8,040,000 shares. Based on an average trading volume of 4,970,000 shares, the short-interest ratio is presently 2.0 days. Currently, 8.6% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in shares of Astera Labs during the third quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in Astera Labs during the 4th quarter worth approximately $42,000. US Bancorp DE acquired a new position in Astera Labs during the 3rd quarter worth approximately $46,000. First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $49,000. Finally, Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Astera Labs Stock Up 2.6 %

Shares of ALAB opened at $131.77 on Thursday. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm’s 50 day moving average price is $117.53 and its 200 day moving average price is $75.25.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, equities research analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

About Astera Labs

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.