Astera Labs (NASDAQ:ALAB – Get Free Report) released its earnings results on Monday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06, Briefing.com reports. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Astera Labs updated its Q4 guidance to $0.25-$0.26 EPS and its Q4 2024 guidance to 0.250-0.260 EPS.
Astera Labs Price Performance
Shares of NASDAQ ALAB traded up $19.96 during midday trading on Tuesday, hitting $89.61. 6,570,106 shares of the stock traded hands, compared to its average volume of 2,757,122. Astera Labs has a one year low of $36.22 and a one year high of $95.21. The firm has a 50-day moving average of $54.88 and a two-hundred day moving average of $57.89.
Insider Activity at Astera Labs
In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the sale, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,458 shares of company stock worth $31,970,841.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on Astera Labs
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.
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