Oppenheimer Asset Management Inc. Sells 5,125 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 35.7% in the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Astera Labs during the fourth quarter worth $229,991,000. JPMorgan Chase & Co. lifted 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 valued at $82,164,000 after purchasing an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its position in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus boosted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Craig Hallum raised their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $115.33.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $67.68 on Tuesday. The stock has a market cap of $10.97 billion and a PE ratio of -39.12. The firm has a fifty day moving average price of $110.51 and a 200 day moving average price of $87.02. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share 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%. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction 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 $16,723,139.14. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,990 shares of company stock valued at $53,420,642 over the last ninety days.

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.