Astera Labs (NASDAQ:ALAB) Issues Q2 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 target price on the stock. Evercore ISI began coverage on Astera Labs in a research report on Tuesday, April 16th. They issued an outperform rating and a $100.00 target price on the stock. Roth Mkm started coverage on Astera Labs in a research report on Monday, April 15th. They set a buy rating and a $85.00 price target for the company. Northland Securities began coverage on shares of Astera Labs in a research note on Monday, March 25th. They set an outperform rating and a $85.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They set an overweight rating and a $81.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $86.09.

Astera Labs Stock Down 2.5 %

ALAB stock traded down $1.92 during midday trading on Tuesday, reaching $76.19. The company had a trading volume of 2,365,529 shares, compared to its average volume of 2,925,444. Astera Labs has a 1-year low of $50.61 and a 1-year high of $95.21.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average price of $36.00 per share, with a total value of $360,000.00. Following the completion of the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.