Astera Labs (ALAB) Scheduled to Post Quarterly Earnings on Monday

Astera Labs (NASDAQ:ALAB) is scheduled to post its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Astera Labs to post earnings of $0.17 per share for the quarter. Astera Labs has set its Q3 guidance at $0.16-$0.17 EPS and its Q3 2024 guidance at 0.160-0.170 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 company’s revenue was up 17.8% on a year-over-year basis. On average, analysts expect Astera Labs to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Astera Labs Trading Up 3.5 %

Shares of NASDAQ:ALAB opened at $72.65 on Friday. The firm’s 50-day moving average is $54.35 and its two-hundred day moving average is $58.12. Astera Labs has a 1 year low of $36.22 and a 1 year high of $95.21.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Barclays cut their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs has an average rating of “Buy” and an average target price of $73.09.

Insider Transactions at Astera Labs

In other news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the sale, the insider now owns 835,000 shares in the company, valued at $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at $58,007,450. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the sale, the director now owns 137,000 shares in the company, valued at approximately $8,451,530. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock valued at $31,970,841 over the last 90 days.

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.