Oak Ridge Investments LLC Makes New $284,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Oak Ridge Investments LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,144 shares of the company's stock, valued at approximately $284,000.

A number of other large investors have also recently added to or reduced their stakes in ALAB. Hollencrest Capital Management acquired a new position in Astera Labs during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $42,000. US Bancorp DE purchased a new stake in Astera Labs in the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs during the 3rd quarter valued at $49,000. Finally, Allworth Financial LP increased its position in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Up 4.2 %

ALAB stock traded up $5.40 during midday trading on Monday, reaching $133.30. 3,241,856 shares of the company's stock traded hands, compared to its average volume of 3,784,042. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The business has a 50-day moving average price of $119.56 and a two-hundred day moving average price of $76.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business's revenue was up 47.1% compared to the same quarter last year. On average, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $100.00 to $120.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Astera Labs has an average rating of "Moderate Buy" and a consensus target price of $109.75.

Insiders Place Their Bets

In related news, Director Manuel Alba sold 11,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares of the company's stock, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock worth $167,581,256 over the last quarter.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.