Astera Labs Target of Unusually Large Options Trading (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB) was the target of some unusual options trading activity on Friday. Stock traders acquired 20,176 call options on the company. This is an increase of approximately 61% compared to the typical volume of 12,513 call options.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Citigroup dropped their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Needham & Company LLC reduced their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial started coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $100.00.

Astera Labs Stock Performance

Shares of ALAB stock opened at $93.07 on Friday. The stock has a 50 day moving average price of $81.64 and a 200 day moving average price of $92.02. The firm has a market capitalization of $15.35 billion, a P/E ratio of 423.06, a P/E/G ratio of 4.68 and a beta of 1.39. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The firm’s quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. As a group, sell-side analysts forecast that Astera Labs will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 106,510 shares of Astera Labs stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40. Following the transaction, the chief executive officer now directly owns 521,008 shares of the company’s stock, valued at $49,256,096.32. The trade was a 16.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider now directly owns 755,000 shares of the company’s stock, valued at $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,601,777 shares of company stock valued at $141,082,321.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the fourth quarter valued at $25,000. Hoey Investments Inc. boosted its position in shares of Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock worth $47,000 after acquiring an additional 204 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Company Profile

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.