Astera Labs Sees Unusually High Options Volume (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB) was the target of unusually large options trading on Tuesday. Stock traders bought 21,392 call options on the stock. This represents an increase of approximately 29% compared to the typical daily volume of 16,569 call options.

Analyst Upgrades and Downgrades

ALAB has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Roth Mkm raised their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus price target of $115.33.

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the sale, the director now owns 6,148 shares in the company, valued at $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 846,452 shares of company stock worth $86,427,256.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter worth $25,000. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter worth about $26,000. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% in 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 period. Kestra Investment Management LLC purchased a new stake in Astera Labs in the fourth quarter worth about $28,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

Shares of ALAB opened at $87.50 on Thursday. The firm has a fifty day simple moving average of $121.90 and a two-hundred day simple moving average of $82.86. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. On average, equities research analysts predict that Astera Labs will post -0.45 EPS 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.