Astera Labs (NASDAQ:ALAB) Releases Q2 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ~$0.11 for the period, compared to the consensus estimate of $0.06.

Analyst Ratings Changes

ALAB has been the topic of several recent analyst reports. Roth Mkm initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 target price on the stock. Barclays initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an overweight rating and a $85.00 target price on the stock. Stifel Nicolaus began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $81.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an overweight rating and a $85.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $86.09.

Astera Labs Price Performance

NASDAQ ALAB traded down $1.92 on Tuesday, reaching $76.19. The company’s stock had a trading volume of 2,078,564 shares, compared to its average volume of 2,912,479. Astera Labs has a 52 week low of $50.61 and a 52 week high of $95.21.

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The shares were acquired at an average cost of $36.00 per share, with a total value of $360,000.00. Following the acquisition, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.