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

Astera Labs (NASDAQ:ALAB - Get Free Report) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.250-0.260 for the period, compared to the consensus earnings per share 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

ALAB has been the subject of a number of research analyst reports. Barclays cut their price objective on Astera Labs from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Stifel Nicolaus cut their target price on shares of Astera Labs from $87.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 5th. Finally, Morgan Stanley boosted their price target on shares of Astera Labs from $55.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $73.09.

Astera Labs Price Performance

ALAB stock traded down $3.00 during trading on Monday, reaching $69.65. 5,239,463 shares of the company traded hands, compared to its average volume of 2,749,148. The business has a 50 day simple moving average of $54.35 and a 200 day simple moving average of $57.90. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analysts' expectations of $72.41 million. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts predict that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares of the company's stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now owns 835,000 shares of the company's stock, valued at $58,007,450. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

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.

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