Astera Labs (NASDAQ:ALAB – Get Free Report) issued an update on its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ~$0.11 for the period, compared to the consensus earnings per share estimate of $0.06.
Astera Labs Trading Up 0.7 %
NASDAQ:ALAB traded up $0.49 during trading hours on Thursday, reaching $69.75. The company’s stock had a trading volume of 3,063,550 shares, compared to its average volume of 3,001,500. Astera Labs has a one year low of $50.61 and a one year high of $95.21.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ALAB. Jefferies Financial Group assumed coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 price objective for the company. Northland Securities initiated coverage on shares of Astera Labs in a report on Monday, March 25th. They issued an outperform rating and a $85.00 price target for the company. Stifel Nicolaus assumed coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $81.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an overweight rating and a $85.00 price target for the company. Finally, Barclays initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $85.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $86.09.
Insider Activity
In other news, Director Jack R. Lazar purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director now directly owns 165,000 shares in the company, valued at $5,940,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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.
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