Astera Labs (NASDAQ:ALAB) Posts Earnings Results, Beats Expectations By $0.06 EPS

Astera Labs (NASDAQ:ALAB) released its earnings results on Monday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06, Briefing.com reports. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. Astera Labs updated its Q4 guidance to $0.25-$0.26 EPS and its Q4 2024 guidance to 0.250-0.260 EPS.

Astera Labs Stock Up 2.4 %

Shares of ALAB opened at $98.17 on Thursday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $98.68. The firm’s 50-day moving average price is $57.00 and its 200-day moving average price is $58.39.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALAB shares. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI decreased their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Craig Hallum upped their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $92.36.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock worth $31,970,841 over the last three months.

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.