Short Interest in Astera Labs, Inc. (NASDAQ:ALAB) Rises By 25.1%

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

Astera Labs Trading Up 4.2 %

NASDAQ:ALAB traded up $5.40 on Friday, hitting $133.30. 3,236,079 shares of the company's stock traded hands, compared to its average volume of 3,313,572. The firm has a 50-day moving average price of $118.88 and a 200-day moving average price of $76.01. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company's revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, equities research analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALAB has been the topic of a number of research analyst reports. Craig Hallum raised their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Northland Capmk lowered shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley boosted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.75.

Insiders Place Their Bets

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company's stock, valued at $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Strategic Blueprint LLC boosted its stake in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock worth $298,000 after acquiring an additional 195 shares in the last quarter. GAMMA Investing LLC boosted its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after purchasing an additional 224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the fourth quarter valued at approximately $42,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter worth $26,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.