Astera Labs (NASDAQ:ALAB) Updates Q4 2024 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.250-0.260 for the period, compared to the consensus estimate of 0.180. The company issued revenue guidance of $126.0 million-$130.0 million, compared to the consensus revenue estimate of $108.4 million. Astera Labs also updated its Q4 guidance to $0.25-$0.26 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on ALAB. Morgan Stanley increased their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $86.45.

Astera Labs Trading Up 35.5 %

ALAB stock traded up $24.74 during midday trading on Tuesday, hitting $94.39. 8,294,037 shares of the company traded hands, compared to its average volume of 2,820,908. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21. The business has a 50 day simple moving average of $54.88 and a 200-day simple moving average of $57.89.

Astera Labs (NASDAQ:ALAB) last posted its 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. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Equities analysts predict that Astera Labs will post -0.54 EPS for the current year.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. This trade 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 worth $31,970,841 in the last 90 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.