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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 21,392 call options on the company. This is an increase of approximately 29% compared to the typical volume of 16,569 call options.

Astera Labs Stock Down 0.6 %

Shares of Astera Labs stock traded down $0.51 during trading on Friday, hitting $87.68. 5,261,325 shares of the stock traded hands, compared to its average volume of 5,532,401. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a fifty day moving average price of $120.82 and a two-hundred day moving average price of $82.93.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. On average, equities research analysts expect that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 173,366 shares of Astera Labs stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the sale, the chief executive officer now directly owns 600,000 shares in the company, valued at $66,072,000. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of Astera Labs stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the sale, the director now owns 6,148 shares in the company, valued at approximately $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nebula Research & Development LLC acquired a new stake in Astera Labs in the 4th quarter worth approximately $256,000. Lord Abbett & CO. LLC increased its position in Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares during the period. Voya Investment Management LLC increased its position in Astera Labs by 153.0% in the 4th quarter. Voya Investment Management LLC now owns 637,737 shares of the company's stock worth $84,468,000 after buying an additional 385,693 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Astera Labs in the 4th quarter worth approximately $67,334,000. Finally, Pinebridge Investments L.P. bought a new position in Astera Labs in the 4th quarter worth approximately $211,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They set a "buy" rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Astera Labs has an average rating of "Buy" and a consensus price target of $115.33.

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.