Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Up 25.1% in December

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 10,060,000 shares, an increase of 25.1% from the December 15th total of 8,040,000 shares. Based on an average trading volume of 4,970,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 8.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALAB shares. Stifel Nicolaus lifted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Astera Labs Stock Down 2.9 %

Astera Labs stock opened at $127.90 on Friday. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The business’s fifty day moving average is $118.21 and its 200 day moving average is $75.65.

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 analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. As a group, research analysts anticipate that Astera Labs will post -0.45 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its stake in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after buying an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs in the third quarter valued at about $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs in the third quarter worth about $361,000. Maverick Capital Ltd. grew its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, State Street Corp increased its position in shares of Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after purchasing an additional 442,698 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

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.