Astera Labs (NASDAQ:ALAB) Updates Q2 Earnings Guidance

Astera Labs (NASDAQ:ALAB) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ~$0.11 for the period, compared to the consensus earnings per share estimate of $0.06.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALAB. Barclays initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an overweight rating and a $85.00 target price for the company. Stifel Nicolaus assumed coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $81.00 price objective for the company. Morgan Stanley started coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $81.00 target price on the stock. Jefferies Financial Group began coverage on Astera Labs in a report on Monday, April 15th. They set a buy rating and a $85.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a buy rating and a $85.00 price objective on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $86.09.

Astera Labs Stock Performance

ALAB stock traded down $6.93 during midday trading on Wednesday, hitting $69.26. The company’s stock had a trading volume of 5,392,568 shares, compared to its average volume of 3,000,650. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Insider Buying and Selling

In related news, Director Jack R. Lazar purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now directly owns 165,000 shares in the company, valued at $5,940,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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.