Stock Traders Buy High Volume of Call Options on Astera Labs (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB) was the target of some unusual options trading activity on Wednesday. Investors acquired 30,940 call options on the stock. This is an increase of approximately 330% compared to the average volume of 7,190 call options.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on 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 transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently modified their holdings of ALAB. Vanguard Group Inc. bought a new position in Astera Labs in the 1st quarter valued at $127,268,000. Capital World Investors purchased a new position in Astera Labs during the first quarter worth about $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the 1st quarter valued at about $44,514,000. Bamco Inc. NY purchased a new position in shares of Astera Labs during the first quarter worth about $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Astera Labs in the first quarter worth approximately $33,141,000.

Astera Labs Stock Down 4.5 %

ALAB opened at $70.16 on Friday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21. The company has a 50 day moving average of $53.73 and a 200 day moving average of $58.11.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ALAB. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Morgan Stanley boosted their price objective on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Craig Hallum decreased their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective 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. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $73.09.

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.