Astera Labs (NASDAQ:ALAB) Releases Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.25-$0.26 for the period, compared to the consensus estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALAB. Deutsche Bank Aktiengesellschaft dropped 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 report on Wednesday, August 7th. Evercore ISI cut 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. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $73.09.

Astera Labs Price Performance

NASDAQ:ALAB traded down $3.00 during trading hours on Monday, hitting $69.65. 4,892,236 shares of the company traded hands, compared to its average volume of 2,746,950. The firm’s 50-day simple moving average is $54.35 and its 200-day simple moving average is $57.90. Astera Labs has a one year low of $36.22 and a one year high of $95.21.

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

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Sanjay Gajendra sold 110,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

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.