Astera Labs sees Q3 revenue between $540 mln and $560 mln
Company expects Q3 GAAP diluted EPS of $0.87 to $0.92
Astera Labs expects Q3 GAAP gross margin of about 72%
Overview
US semiconductor connectivity provider's preliminary Q2 revenue rose 104% yr/yr, beating analyst expectations
Adjusted EPS for preliminary Q2 beat analyst expectations
Company cites strong demand across AI fabrics and signal conditioning for Q2 growth
Result drivers
Product portfolio strength - Co said Q2 revenue growth was driven by broad-based demand across its AI fabrics and signal conditioning portfolio, including record revenue for the Aries product line
New design wins and expansion - Co cited new design wins, expansion into optical interconnects and custom solutions as factors expanding growth opportunities
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
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