Astera Labs (NASDAQ:ALAB) Issues Q4 2024 Earnings Guidance

Astera Labs (NASDAQ:ALAB) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.250-0.260 for the period, compared to the consensus estimate of 0.180. The company issued revenue guidance of $126.0 million-$130.0 million, compared to the consensus revenue estimate of $108.4 million. Astera Labs also updated its Q4 guidance to $0.25-$0.26 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $86.45.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded up $24.74 during mid-day trading on Tuesday, reaching $94.39. The stock had a trading volume of 8,294,037 shares, compared to its average volume of 2,820,908. The firm has a 50 day simple moving average of $54.88 and a two-hundred day simple moving average of $57.89. Astera Labs has a twelve month low of $36.22 and a twelve month high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the sale, the director now owns 135,000 shares in the company, valued at $9,443,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,458 shares of company stock valued at $31,970,841.

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.