Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Update

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 11,470,000 shares, an increase of 10.6% from the July 31st total of 10,370,000 shares. Approximately 10.2% of the company’s stock are sold short. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is presently 5.8 days.

Astera Labs Trading Down 10.7 %

ALAB traded down $5.16 during trading on Monday, reaching $43.06. The company’s stock had a trading volume of 8,629,900 shares, compared to its average volume of 2,414,284. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21. The firm has a fifty day moving average of $48.79.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, sell-side analysts predict that Astera Labs will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALAB shares. Needham & Company LLC reduced their price objective on Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley cut their price target on Astera Labs from $85.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus cut their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.36.

Insider Activity

In other news, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the sale, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently modified their holdings of ALAB. Amalgamated Bank acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $74,000. Legato Capital Management LLC acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $207,000. Alpine Global Management LLC acquired a new position in shares of Astera Labs during the 1st quarter worth approximately $272,000. Strategic Blueprint LLC acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $332,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $341,000.

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.