BUZZ-Astera Labs surges to record after Q2 results, forecast beat estimates
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Astera Labs' shares surged 30.4% to a record high of $176.77 following strong Q2 results, with revenue growing 150% year-over-year to $191.9 million, exceeding estimates. The company forecasts Q3 revenue of $203-$210 million and adjusted EPS of 38-39 cents, also above analyst expectations. Several brokerages raised their price targets significantly, with a median target now at $160. Year-to-date, the stock is up approximately 33% since its IPO in March 2024, priced at $36.
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