Astera Labs (NASDAQ:ALAB) Releases Q2 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ~$0.11 for the period, compared to the consensus earnings per share estimate of $0.06.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALAB shares. Craig Hallum initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a buy rating and a $90.00 price target on the stock. Barclays initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an overweight rating and a $85.00 price target for the company. Stifel Nicolaus began coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a buy rating and a $81.00 price objective on the stock. Roth Mkm initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an overweight rating and a $85.00 target price for the company. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $86.09.

Astera Labs Stock Performance

Astera Labs stock traded down $1.92 during mid-day trading on Tuesday, reaching $76.19. 2,365,529 shares of the company traded hands, compared to its average volume of 2,925,444. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insider Activity at Astera Labs

In other news, Director Jack R. Lazar purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $36.00 per share, with a total value of $360,000.00. Following the completion of the acquisition, the director now owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.