Astera Labs, Inc. (NASDAQ:ALAB) Sees Significant Increase in Short Interest

Astera Labs, Inc. (NASDAQ:ALAB) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 11,100,000 shares, a growth of 12.8% from the September 15th total of 9,840,000 shares. Currently, 9.8% of the company’s stock are sold short. Based on an average daily trading volume, of 3,010,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 sale, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. 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 564,458 shares of company stock worth $31,970,841 over the last quarter.

Institutional Trading of Astera Labs

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALAB. Craig Hallum cut their price target on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Roth Mkm reduced their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays lowered their price target on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $73.09.

Astera Labs Stock Down 3.8 %

Shares of NASDAQ:ALAB opened at $62.47 on Wednesday. The company has a 50 day moving average of $46.67 and a 200-day moving average of $58.06. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that Astera Labs will post -0.54 earnings per share for the current year.

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.