Astera Labs (Astera Labs (ALAB)) is having a strong Tuesday. Shares of the semiconductor connectivity specialist are surging as investors pile in ahead of the company's first-quarter 2026 earnings report, due out after the market closes today.

The broader market is also helping: the Nasdaq is up 1.28% and the S&P 500 has gained 0.74%, providing a tailwind for the stock.

Analyst Targets and Track Record

Wall Street analysts expect earnings per share of 49 cents and revenue of $292.36 million for the quarter. Astera Labs has beaten EPS estimates in eight consecutive quarters, which has built a lot of investor confidence heading into this report.

Short Interest Pullback

Bearish bets on the stock are fading. Short interest fell from 15.50 million to 14.44 million shares in the latest period. Currently, 11.11% of the company's float is sold short, which would take about 2.54 days to cover based on average daily volume.

Technical Levels to Watch

From a trend perspective, ALAB is stretched above its key moving averages. The stock is trading 23.8% above its 20-day simple moving average of $176.25 and 53.5% above its 50-day SMA of $142.15. The moving-average structure is mixed: the 20-day SMA is above the 50-day SMA (bullish near-term), but the 50-day SMA remains below the 200-day SMA of $163.35 following a death cross in March. Longer-term trend followers will want to see that relationship improve over time.

Key levels to watch: resistance at $232 and support at $179.50.

Price Action: Astera Labs shares were up 8.57% at $218.50 at the time of publication on Tuesday, according to market data.