The semiconductor company beat consensus estimates, but shares plunged as CFO Mike Tate announced that he will be stepping down next month.
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Astera Labs
reported fourth-quarter earnings that beat on top and bottom lines, but shares plunged as much as 10% as revenue came short of some analysts’ expectations.
Here’s how the artificial intelligence infrastructure and semiconductor company did compared to LSEG consensus estimates:
Revenue in the fourth quarter rose 92% year over year. However, some analysts were expecting the company to report revenue in excess of $280 million for the period.
The firm's new price target suggests shares of Astera Labs could gain 58.6% from its latest close.
Loop Capital sees shares of Astera Labs rising 120% from here.
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