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

Astera Labs, Inc. (NASDAQ:ALAB) saw some unusual options trading on Wednesday. Traders acquired 30,940 call options on the company. This is an increase of approximately 330% compared to the typical volume of 7,190 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALAB. JPMorgan Chase & Co. decreased their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Craig Hallum decreased their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays dropped their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” 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 MarketBeat.com, Astera Labs has an average rating of “Buy” and a consensus target price of $73.09.

Insider Activity at Astera Labs

In other news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Astera Labs news, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the sale, the general counsel now directly owns 325,474 shares in the company, valued at approximately $14,034,438.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock valued at $31,970,841 in the last 90 days.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in Astera Labs during the first quarter valued at $18,666,000. Capstone Investment Advisors LLC purchased a new position in shares of Astera Labs during the first quarter valued at about $4,629,000. Jennison Associates LLC bought a new stake in shares of Astera Labs in the first quarter worth about $11,283,000. Peregrine Asset Advisers Inc. purchased a new stake in shares of Astera Labs in the first quarter worth about $2,515,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Astera Labs in the first quarter worth about $402,000.

Astera Labs Trading Down 0.8 %

Shares of NASDAQ:ALAB opened at $73.50 on Thursday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $95.21. The stock has a 50 day moving average of $53.12 and a 200 day moving average of $58.02.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Astera Labs will post -0.54 earnings per share for the current year.

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.