Astera Labs, Inc. (NASDAQ:ALAB) Sees Significant Increase in Short Interest

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 11,100,000 shares, an increase of 12.8% from the September 15th total of 9,840,000 shares. Approximately 9.8% of the company’s stock are short sold. Based on an average daily volume of 3,010,000 shares, the short-interest ratio is presently 3.7 days.

Astera Labs Stock Up 5.0 %

ALAB opened at $65.59 on Thursday. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21. The firm’s 50-day simple moving average is $47.25 and its 200-day simple moving average is $58.11.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share 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 the consensus estimate of $72.41 million. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts expect that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Craig Hallum cut their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Stifel Nicolaus lowered 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, Morgan Stanley boosted their price objective on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $73.09.

Insider Activity at Astera Labs

In other news, insider Sanjay Gajendra sold 110,000 shares of the 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 transaction, the insider now owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of the business. Sei Investments Co. acquired a new position in Astera Labs during the 1st quarter worth about $952,000. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter worth approximately $127,268,000. Forge First Asset Management Inc. acquired a new position in shares of Astera Labs during the first quarter worth approximately $1,143,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the first quarter valued at approximately $44,514,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $18,666,000.

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.