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The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 4 cents per share, down from 11 cents in the past 30 days.
The consensus mark for revenues is pegged at $56.65 million.
Astera Lab offers semiconductor-based connectivity solutions customized to leverage the full potential of cloud and AI infrastructure. It had revenues of $116 million in 2023. ALAB started trading on Mar 20, 2024.
Let’s see how things have shaped up prior to ALAB’s first-ever earnings announcement.
Factors to Note
Astera Labs’ first quarter 2024 revenues are likely to have benefited from increasing demand for AI server and data center infrastructure.
Strong momentum across its three key product families, Aries, Taurus, and Leo, is likely to have contributed well.
The company’s robust peripheral component interface express (PCIe) retimers under the Aries product line are expected to have presented significant growth opportunity for Astera in the PCIe retimer market during the quarter under review.
According to Valuates latest report, the global PCIe retimer market is expected to grow at a CAGR of 46.8% between 2024 and 2030.
In March, Astera Labs expanded its Aries PCIe/CXL Smart DSP Retimer portfolio to include low-power PCIe 6x and CXL 3x connectivity solutions for data-centric systems, offering industry-leading performance and interoperability. Benefits from this expansion are likely to have been reflected in the to-be-reported quarter.
In January, Astera Labs also announced the sampling of its Aries PCIe and CXL Smart Cable Modules for robust, long-reach copper cabling connectivity in cloud and AI infrastructure, furthering their leadership in high-performance connectivity solutions. This is expected to have been a tailwind for the company.
ALAB’s expanding portfolio is expected to have aided it in fending off competition from other industry players like Broadcom (AVGO - Free Report) , which is also making strong efforts in the PCIe retimers market.
In March, AVGO introduced the world's first 5nm PCIe Gen 5.0/CXL2.0 and PCIe Gen 6.0/CXL3.1 retimers, enhancing AI server capabilities with extended reach and lower power consumption.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Astera Labs currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
Astera Labs (ALAB) to Report Q1 Earnings: What's in Store?
Astera Labs (ALAB - Free Report) is scheduled to report first-quarter 2024 results on May 7.
The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 4 cents per share, down from 11 cents in the past 30 days.
The consensus mark for revenues is pegged at $56.65 million.
Astera Lab offers semiconductor-based connectivity solutions customized to leverage the full potential of cloud and AI infrastructure. It had revenues of $116 million in 2023. ALAB started trading on Mar 20, 2024.
Astera Labs, Inc. Price and EPS Surprise
Astera Labs, Inc. price-eps-surprise | Astera Labs, Inc. Quote
Let’s see how things have shaped up prior to ALAB’s first-ever earnings announcement.
Factors to Note
Astera Labs’ first quarter 2024 revenues are likely to have benefited from increasing demand for AI server and data center infrastructure.
Strong momentum across its three key product families, Aries, Taurus, and Leo, is likely to have contributed well.
The company’s robust peripheral component interface express (PCIe) retimers under the Aries product line are expected to have presented significant growth opportunity for Astera in the PCIe retimer market during the quarter under review.
According to Valuates latest report, the global PCIe retimer market is expected to grow at a CAGR of 46.8% between 2024 and 2030.
In March, Astera Labs expanded its Aries PCIe/CXL Smart DSP Retimer portfolio to include low-power PCIe 6x and CXL 3x connectivity solutions for data-centric systems, offering industry-leading performance and interoperability. Benefits from this expansion are likely to have been reflected in the to-be-reported quarter.
In January, Astera Labs also announced the sampling of its Aries PCIe and CXL Smart Cable Modules for robust, long-reach copper cabling connectivity in cloud and AI infrastructure, furthering their leadership in high-performance connectivity solutions. This is expected to have been a tailwind for the company.
ALAB’s expanding portfolio is expected to have aided it in fending off competition from other industry players like Broadcom (AVGO - Free Report) , which is also making strong efforts in the PCIe retimers market.
In March, AVGO introduced the world's first 5nm PCIe Gen 5.0/CXL2.0 and PCIe Gen 6.0/CXL3.1 retimers, enhancing AI server capabilities with extended reach and lower power consumption.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Astera Labs currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Arista Networks (ANET - Free Report) has an Earnings ESP of +2.49% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks’ shares have gained 17.7% year to date. ANET is set to report its first-quarter 2024 results on May 7.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.50% and a Zacks Rank #2.
NVIDIA’s shares have gained 78.8% year to date. NVDA is scheduled to release first-quarter fiscal 2025 results on May 22.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.