Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Update

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a large growth in short interest during 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. Currently, 8.6% of the company’s shares are short sold. Based on an average daily trading volume, of 4,970,000 shares, the short-interest ratio is presently 2.0 days.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALAB shares. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday. Craig Hallum boosted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $107.42.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 in the last 90 days.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Astera Labs in the fourth quarter worth $55,000. Peregrine Investment Management Inc. purchased a new stake in Astera Labs during the 4th quarter worth $10,701,000. Covenant Asset Management LLC acquired a new position in Astera Labs in the 4th quarter worth $405,000. Rhumbline Advisers boosted its position in Astera Labs by 371.4% in the 4th quarter. Rhumbline Advisers now owns 99,949 shares of the company’s stock valued at $13,238,000 after buying an additional 78,746 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Astera Labs during the fourth quarter valued at about $2,705,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Performance

ALAB stock opened at $96.87 on Friday. The stock’s fifty day simple moving average is $122.61 and its 200-day simple moving average is $79.60. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping 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 net margin of 30.69% and a negative return on equity of 15.57%. 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 EPS for the current fiscal 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.