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

Astera Labs, Inc. (NASDAQ:ALAB) was the target of unusually large options trading activity on Wednesday. Traders bought 9,275 call options on the stock. This represents an increase of approximately 62% compared to the typical volume of 5,736 call options.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 37,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00. Following the sale, the director now directly owns 498,863 shares in the company, valued at approximately $25,102,786.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the sale, the director now directly owns 498,863 shares in the company, valued at approximately $25,102,786.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,791 shares of company stock worth $12,933,588 over the last 90 days.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently added to or reduced their stakes in ALAB. Amalgamated Bank acquired a new stake in Astera Labs during the 2nd quarter worth approximately $74,000. Newbridge Financial Services Group Inc. grew its position in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after buying an additional 2,980 shares during the last quarter. Legato Capital Management LLC acquired a new position in Astera Labs in the 2nd quarter valued at $207,000. Alpine Global Management LLC acquired a new position in Astera Labs in the 1st quarter valued at $272,000. Finally, Strategic Blueprint LLC purchased a new position in Astera Labs during the 2nd quarter worth $332,000.

Astera Labs Stock Performance

Shares of Astera Labs stock traded up $8.53 during trading on Wednesday, reaching $61.49. The company’s stock had a trading volume of 5,531,702 shares, compared to its average volume of 2,570,626. The company has a 50-day moving average price of $44.50 and a two-hundred day moving average price of $58.59. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The business’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Barclays decreased their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Craig Hallum dropped their price target on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $73.09.

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.