Investors Buy Large Volume of Call Options on Astera Labs (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) saw some unusual options trading on Wednesday. Investors purchased 30,940 call options on the company. This is an increase of 330% compared to the average volume of 7,190 call options.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the general counsel now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, 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. Insiders have sold a total of 564,458 shares of company stock valued at $31,970,841 in the last three months.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC lifted its position in Astera Labs by 2,078.5% in the third quarter. Emerald Advisers LLC now owns 6,296 shares of the company's stock worth $330,000 after purchasing an additional 6,007 shares during the period. Van ECK Associates Corp bought a new stake in shares of Astera Labs in the 3rd quarter worth $462,000. Janney Capital Management LLC acquired a new stake in shares of Astera Labs in the third quarter valued at $388,000. Realta Investment Advisors bought a new position in Astera Labs during the third quarter valued at about $244,000. Finally, US Bancorp DE bought a new position in Astera Labs during the third quarter valued at about $46,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALAB shares. Barclays reduced their price objective on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on shares of Astera Labs from $87.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Roth Mkm dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, Craig Hallum decreased their target price on Astera Labs from $90.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $73.09.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded down $0.57 during midday trading on Wednesday, hitting $73.50. 1,924,302 shares of the company's stock were exchanged, compared to its average volume of 2,734,862. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21. The stock's 50 day moving average price is $52.46 and its 200-day moving average price is $57.92.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The company's revenue was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs will post -0.54 EPS for the current year.

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.