Astera Labs Inc ( ALAB ) reported upbeat financial results for the third quarter of fiscal 2025 after the market close on Tuesday.

Astera Labs ( ALAB ) reported third-quarter revenue of $230.58 million, beating analyst estimates of $206.55 million, according to Benzinga Pro. The semiconductor-based connectivity solutions company reported third-quarter adjusted earnings of 49 cents per share, beating estimates of 39 cents per share.

"During the quarter, we saw robust demand and upside across our signal conditioning, smart cable module (SCM), and switch fabric portfolios as new AI platforms ramped up production," said Jitendra Mohan, CEO of Astera Labs ( ALAB ).

Astera Labs ( ALAB ) expects fourth-quarter revenue of $245 million to $253 million. The company anticipates fourth-quarter adjusted earnings of 50 cents to 51 cents per share versus estimates of 42 cents per share.

Astera Labs ( ALAB ) shares fell 6.4% to close at $179.31 on Tuesday.

These analysts made changes to their price targets on Astera Labs ( ALAB ) following earnings announcement.

Needham analyst N. Quinn Bolton maintained Astera Labs ( ALAB ) with a Buy and raised the price target from $205 to $220.

Stifel analyst Tore Svanberg maintained the stock with a Buy and raised the price target from $185 to $200.

Considering buying ALAB stock? Here’s what analysts think:

Read This Next:

How To Earn $500 A Month From Qualcomm Stock Ahead Of Q4 Earnings

Photo via Shutterstock