Astera Labs Target of Unusually Large Options Trading (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALABGet Free Report) saw unusually large options trading on Friday. Stock traders acquired 20,176 call options on the company. This is an increase of 61% compared to the average daily volume of 12,513 call options.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $93.07 on Friday. The firm has a market cap of $15.35 billion, a P/E ratio of 423.06, a P/E/G ratio of 4.68 and a beta of 1.39. The firm has a 50 day simple moving average of $81.64 and a 200 day simple moving average of $92.02. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALABGet Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. During the same period last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 144.1% on a year-over-year basis. On average, sell-side analysts expect that Astera Labs will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In other news, CFO Michael Truett Tate sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 618,996 shares in the company, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 106,510 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $94.54, for a total value of $10,069,455.40. Following the transaction, the chief executive officer now owns 521,008 shares of the company’s stock, valued at approximately $49,256,096.32. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,601,777 shares of company stock valued at $141,082,321 over the last three months.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in ALAB. Vanguard Group Inc. increased its stake in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after buying an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. grew its stake in Astera Labs by 114.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after buying an additional 4,478,741 shares during the last quarter. Atreides Management LP grew its stake in Astera Labs by 153.3% in the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock valued at $277,601,000 after buying an additional 2,815,614 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the period. Finally, Norges Bank bought a new stake in Astera Labs in the 4th quarter valued at about $179,229,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Stifel Nicolaus cut their price objective on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Citigroup cut their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $100.00.

Read Our Latest Research Report on ALAB

Astera Labs Company Profile

(Get Free Report)

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.

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