Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Update

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 10,060,000 shares, a growth of 25.1% from the December 31st total of 8,040,000 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average trading volume of 4,970,000 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALAB. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a "buy" rating and a $120.00 price objective on the stock. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has a consensus rating of "Buy" and an average price target of $107.42.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the company'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 sale, the chief financial officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALAB. Fred Alger Management LLC lifted its holdings in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new position in Astera Labs in the 4th quarter worth $229,991,000. Westfield Capital Management Co. LP bought a new stake in Astera Labs in the third quarter worth $52,049,000. The Manufacturers Life Insurance Company boosted its position in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after buying an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC purchased a new stake in Astera Labs during the third quarter valued at about $38,565,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Down 3.0 %

NASDAQ:ALAB traded down $3.04 during midday trading on Monday, hitting $98.38. The company had a trading volume of 4,478,742 shares, compared to its average volume of 4,986,714. The stock's fifty day moving average price is $122.46 and its 200-day moving average price is $80.36. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs's quarterly revenue was up 47.1% on a year-over-year basis. As a group, research analysts anticipate that Astera Labs will post -0.45 EPS for the current fiscal 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.