Traders Buy Large Volume of Astera Labs Call Options (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB) saw unusually large options trading activity on Wednesday. Stock investors acquired 9,275 call options on the stock. This is an increase of approximately 62% compared to the average volume of 5,736 call options.

Astera Labs Stock Up 8.0 %

Shares of Astera Labs stock opened at $66.11 on Friday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21. The company has a 50-day simple moving average of $44.84 and a two-hundred day simple moving average of $58.60.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, analysts anticipate that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI lowered their target price 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. Stifel Nicolaus cut their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Mkm cut their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $73.09.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 8,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the transaction, the general counsel now owns 325,474 shares in the company, valued at $14,034,438.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the sale, the director now directly owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 8,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the completion of the sale, the general counsel now directly owns 325,474 shares of the company’s stock, valued at $14,034,438.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,791 shares of company stock valued at $12,933,588 over the last 90 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank purchased a new position in shares of Astera Labs during the second quarter valued at approximately $74,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares during the last quarter. Legato Capital Management LLC purchased a new position in shares of Astera Labs during the second quarter valued at approximately $207,000. Alpine Global Management LLC purchased a new position in shares of Astera Labs during the first quarter valued at approximately $272,000. Finally, Strategic Blueprint LLC purchased a new position in shares of Astera Labs during the second quarter valued at approximately $332,000.

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.