Astera Labs Target of Unusually Large Options Trading (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders purchased 9,275 call options on the company. This is an increase of 62% compared to the average daily volume of 5,736 call options.

Insider Buying and Selling

In related news, Director Manuel Alba sold 37,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the transaction, the director now directly owns 498,863 shares of the company's stock, valued at $25,102,786.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the transaction, the director now owns 498,863 shares of the company's stock, valued at approximately $25,102,786.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 855,000 shares of the company's stock, valued at $38,748,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,791 shares of company stock valued at $12,933,588 over the last three months.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. purchased a new position in shares of Astera Labs during the 1st quarter worth $952,000. Vanguard Group Inc. purchased a new position in shares of Astera Labs during the 1st quarter worth $127,268,000. Forge First Asset Management Inc. purchased a new position in shares of Astera Labs during the 1st quarter worth $1,143,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs during the 1st quarter worth $44,514,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Astera Labs during the 1st quarter worth $18,666,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALAB shares. Roth Mkm decreased their target price on shares of Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Evercore ISI decreased their target price on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised their target price on shares of Astera Labs from $55.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays cut their price target on shares of Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Astera Labs from $95.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs has an average rating of "Buy" and an average price target of $73.09.

Astera Labs Trading Up 15.6 %

ALAB stock traded up $8.26 on Wednesday, hitting $61.22. The company had a trading volume of 12,521,799 shares, compared to its average volume of 2,620,536. Astera Labs has a 12-month low of $36.22 and a 12-month high of $95.21. The stock's 50-day simple moving average is $44.50 and its 200 day simple moving average is $58.59.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its 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 company had revenue of $76.90 million during the quarter, compared to analysts' expectations of $72.41 million. The business's quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts expect that Astera Labs will post -0.54 earnings per share for the current 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.