Short Interest in Astera Labs, Inc. (NASDAQ:ALAB) Expands By 25.1%

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

Insiders Place Their Bets

In related news, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Hollencrest Capital Management acquired a new position in shares of Astera Labs during the third quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the fourth quarter valued at $42,000. US Bancorp DE purchased a new position in shares of Astera Labs during the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs during the third quarter worth $49,000. Finally, Allworth Financial LP grew its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

ALAB stock opened at $133.30 on Friday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39. The firm has a 50-day moving average price of $118.88 and a 200-day moving average price of $76.01.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS 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 firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALAB has been the topic of several analyst reports. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and upped their price target for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.75.

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.