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

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 8,910,000 shares, a decrease of 16.3% from the October 31st total of 10,640,000 shares. Based on an average daily trading volume, of 4,670,000 shares, the short-interest ratio is presently 1.9 days. Approximately 7.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Barclays increased their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $94.67.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The stock was 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 owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This represents a 6.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now owns 137,000 shares in the company, valued at $8,451,530. This trade represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the third quarter worth $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs in the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs during the third quarter worth about $49,000. Allworth Financial LP grew its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in Astera Labs in the second quarter valued at about $74,000.

Astera Labs Trading Up 3.7 %

ALAB opened at $103.25 on Friday. The firm’s 50 day moving average is $75.22 and its 200-day moving average is $61.00. Astera Labs has a 52-week low of $36.22 and a 52-week high of $113.85.

Astera Labs (NASDAQ:ALAB) last announced its earnings results 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. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs will post -0.45 EPS for the current 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.