Oak Thistle LLC Has $724,000 Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Oak Thistle LLC decreased its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,466 shares of the company's stock after selling 6,887 shares during the quarter. Oak Thistle LLC's holdings in Astera Labs were worth $724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company's stock valued at $1,231,377,000 after buying an additional 153,491 shares during the period. Fred Alger Management LLC lifted its position in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock worth $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs in the third quarter valued at $52,049,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALAB shares. Stifel Nicolaus lifted 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. Barclays upped their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Northland Capmk cut shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on Astera Labs from $94.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.75.

Insider Activity

In other news, CEO Jitendra Mohan sold 171,064 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares of the company's stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at $11,626,644.90. The trade was a 27.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Astera Labs Stock Down 2.9 %

NASDAQ:ALAB traded down $3.87 during trading hours on Thursday, hitting $127.90. 4,156,354 shares of the stock were exchanged, compared to its average volume of 3,318,284. The company's 50 day moving average is $118.21 and its two-hundred day moving average is $75.65. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business's revenue for the quarter 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.

Astera Labs 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.