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

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALAB. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday. Barclays boosted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $107.42.

Insider Buying and Selling

In other news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated 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 owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALAB. Principal Securities Inc. purchased a new position in Astera Labs during the fourth quarter valued at approximately $55,000. Peregrine Investment Management Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at $10,701,000. Covenant Asset Management LLC purchased a new position in shares of Astera Labs during the 4th quarter valued at $405,000. Rhumbline Advisers increased its stake in shares of Astera Labs by 371.4% in the fourth quarter. Rhumbline Advisers now owns 99,949 shares of the company’s stock worth $13,238,000 after acquiring an additional 78,746 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Astera Labs during the fourth quarter worth $2,705,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

ALAB stock opened at $96.87 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 simple moving average of $122.61 and a 200 day simple moving average of $79.60.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue was up 47.1% on a year-over-year basis. As a group, research analysts expect that Astera Labs will post -0.45 EPS for the current fiscal 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.