Astera Labs (NASDAQ:ALAB) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

Astera Labs (NASDAQ:ALAB – Get Free Report) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.250-0.260 for the period, compared to the consensus estimate of 0.180. The company issued revenue guidance of $126.0 million-$130.0 million, compared to the consensus revenue estimate of $108.4 million. Astera Labs also updated its Q4 guidance to $0.25-$0.26 EPS.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley raised their target price on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $92.36.

Read Our Latest Analysis on Astera Labs

Astera Labs Price Performance

NASDAQ:ALAB traded down $1.15 during trading hours on Wednesday, hitting $94.76. 10,009,418 shares of the stock traded hands, compared to its average volume of 2,932,858. The firm has a 50 day moving average price of $55.90 and a 200 day moving average price of $58.11. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $97.35.

Astera Labs (NASDAQ:ALAB – Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. 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. Equities analysts expect that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 564,458 shares of company stock worth $31,970,841.

About Astera Labs

(Get Free Report)

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.

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