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

Astera Labs, Inc. (NASDAQ:ALAB) was the target of unusually large options trading on Friday. Stock traders bought 20,176 call options on the stock. This represents an increase of approximately 61% compared to the typical volume of 12,513 call options.

Astera Labs Trading Down 6.5%

Shares of ALAB opened at $93.07 on Friday. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 423.06, a PEG ratio of 4.37 and a beta of 1.39. The stock has a 50 day moving average of $81.64 and a 200-day moving average of $91.86. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business’s revenue was up 144.1% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. On average, sell-side analysts predict that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the sale, the insider now directly owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,601,777 shares of company stock worth $141,082,321 over the last 90 days.

Institutional Trading of Astera Labs

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in shares of Astera Labs by 4.4% in the 1st quarter. Rhumbline Advisers now owns 104,345 shares of the company’s stock worth $6,226,000 after purchasing an additional 4,396 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Astera Labs by 1,382.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company’s stock worth $241,000 after purchasing an additional 3,761 shares during the last quarter. Focus Partners Wealth raised its stake in Astera Labs by 0.8% during the 1st quarter. Focus Partners Wealth now owns 432,806 shares of the company’s stock valued at $25,826,000 after acquiring an additional 3,464 shares in the last quarter. Optimize Financial Inc bought a new stake in Astera Labs during the 1st quarter valued at $1,718,000. Finally, Empowered Funds LLC raised its stake in Astera Labs by 917.3% during the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after acquiring an additional 4,183 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALAB shares. Evercore ISI increased their price objective on Astera Labs from $87.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Susquehanna began coverage on Astera Labs in a research report on Friday, May 16th. They set a “neutral” rating and a $80.00 target price on the stock. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. Finally, Raymond James Financial began coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $100.00.

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.