Oppenheimer Asset Management Inc. Has $1.22 Million Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. reduced its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,212 shares of the company's stock after selling 5,125 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Astera Labs were worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC lifted its position in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astera Labs in the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs during the 3rd quarter valued at $361,000. Maverick Capital Ltd. grew its holdings in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in shares of Astera Labs in the third quarter worth $1,409,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Trading Up 5.4 %

ALAB stock traded up $3.43 during trading on Friday, reaching $66.92. 5,813,902 shares of the stock were exchanged, compared to its average volume of 3,790,066. The stock has a 50 day simple moving average of $105.96 and a 200-day simple moving average of $86.93. The company has a market capitalization of $10.85 billion and a P/E ratio of -38.68. 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 released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 target price for the company. Craig Hallum upped their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $115.33.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now directly owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares of the company's stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 570,990 shares of company stock valued at $50,242,702.

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.