Short Interest in Astera Labs, Inc. (NASDAQ:ALAB) Increases By 25.1%

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

Wall Street Analyst Weigh In

Several brokerages have commented on ALAB. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Craig Hallum raised their price target on Astera Labs from $75.00 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 research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $107.42.

Insider Activity

In other news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in shares of Astera Labs during the fourth quarter worth $2,705,000. Legato Capital Management LLC increased its position in Astera Labs by 68.2% during the fourth quarter. Legato Capital Management LLC now owns 25,612 shares of the company’s stock worth $3,392,000 after acquiring an additional 10,386 shares during the period. Peterson Wealth Services acquired a new stake in Astera Labs in the 4th quarter worth about $1,208,000. Essex Financial Services Inc. boosted its holdings in Astera Labs by 1.9% in the 4th quarter. Essex Financial Services Inc. now owns 24,939 shares of the company’s stock valued at $3,303,000 after purchasing an additional 468 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $250,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Up 6.3 %

Shares of ALAB stock opened at $96.16 on Thursday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a 50-day simple moving average of $122.75 and a 200 day simple moving average of $79.52.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s quarterly revenue was up 47.1% on a year-over-year basis. Equities research analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

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.