Astera Labs (NASDAQ:ALAB) Updates Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.25-$0.26 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Astera Labs Trading Down 2.0 %

ALAB stock traded down $1.93 during trading on Wednesday, hitting $93.98. 7,923,101 shares of the stock traded hands, compared to its average volume of 2,919,819. Astera Labs has a one year low of $36.22 and a one year high of $97.35. The company has a 50 day simple moving average of $55.90 and a 200 day simple moving average of $58.11.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. Research analysts forecast that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Craig Hallum boosted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $92.36.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Michael Truett Tate sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the completion of the transaction, the chief financial officer now owns 1,762,888 shares in the company, valued at approximately $109,351,942.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock valued at $31,970,841 over the last ninety 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.