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

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

Insider Transactions at Astera Labs

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

Institutional Investors Weigh In On Astera Labs

Large investors have recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs during the fourth quarter worth approximately $36,000. Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the period. ORG Wealth Partners LLC bought a new stake in Astera Labs during the fourth quarter worth approximately $42,000. Finally, Principal Securities Inc. bought a new stake in Astera Labs during the fourth quarter worth approximately $55,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

NASDAQ ALAB opened at $101.42 on Friday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock’s 50-day moving average price is $122.47 and its two-hundred day moving average price is $79.72.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, equities analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $107.42.

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.