Astera Labs, Inc. (NASDAQ:ALAB) Sees Large Increase in Short Interest

Astera Labs, Inc. (NASDAQ:ALAB) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 10,060,000 shares, a growth of 25.1% from the December 15th total of 8,040,000 shares. Approximately 8.6% of the company’s stock are short sold. Based on an average trading volume of 4,970,000 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and raised their price target for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.75.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 over the last three months.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Astera Labs by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after buying an additional 47,569 shares during the period. Maverick Capital Ltd. grew its holdings in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in Astera Labs during the third quarter valued at approximately $52,049,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Price Performance

NASDAQ ALAB opened at $131.77 on Thursday. The stock’s fifty day moving average price is $117.53 and its 200 day moving average price is $75.25. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

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.