Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Up 25.1% in January

Astera Labs, Inc. (NASDAQ:ALAB) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 10,060,000 shares, an increase of 25.1% from the December 31st total of 8,040,000 shares. Approximately 8.6% of the shares of the stock are short sold. Based on an average daily volume of 4,970,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALAB. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Mkm increased 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. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Astera Labs has an average rating of “Buy” and a consensus price target of $107.42.

Insider Activity at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Astera Labs during the third quarter worth $26,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs during the 4th quarter worth about $36,000. ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the 4th quarter worth about $42,000. US Bancorp DE acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. Finally, First Horizon Advisors Inc. bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $49,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Up 6.3 %

Shares of NASDAQ:ALAB opened at $96.16 on Thursday. The business has a fifty day simple moving average of $122.75 and a 200 day simple moving average of $79.52. 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, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

Astera Labs Company Profile

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.