Short Interest in Astera Labs, Inc. (NASDAQ:ALAB) Decreases By 20.0%

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 8,050,000 shares, a drop of 20.0% from the December 31st total of 10,060,000 shares. Based on an average daily volume of 5,030,000 shares, the short-interest ratio is presently 1.6 days. Currently, 6.9% of the shares of the company are short sold.

Astera Labs Trading Up 7.1 %

Astera Labs stock opened at $96.87 on Friday. The stock has a 50-day moving average price of $122.61 and a two-hundred day moving average price of $79.60. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

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, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts predict that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has a consensus rating of “Buy” and a consensus price target of $107.42.

Insider Buying and Selling

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now owns 129,617 shares in the company, valued at $11,626,644.90. This represents a 27.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction that occurred 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 sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently modified their holdings of the business. Fred Alger Management LLC increased its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new position in shares of Astera Labs during the fourth quarter worth about $229,991,000. Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs in the third quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company boosted its holdings in Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC acquired a new stake in Astera Labs during the 3rd quarter valued at approximately $38,565,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.