Astera Labs, Inc. (NASDAQ:ALAB – Get 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:ALAB – Get 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
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
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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