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

Oak Thistle LLC decreased its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 55.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new stake in Astera Labs in the third quarter valued at about $26,000. ORG Wealth Partners LLC acquired a new stake in Astera Labs during the fourth quarter valued at approximately $42,000. US Bancorp DE acquired a new stake in Astera Labs during the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $49,000. Finally, Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% in the 3rd 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.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent analyst reports. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Morgan Stanley upped their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 11,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Astera Labs Stock Performance

ALAB stock opened at $131.77 on Thursday. The company has a 50 day moving average price of $117.53 and a 200 day moving average price of $75.25. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate 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 was up 47.1% on a year-over-year basis. As a group, equities analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

About Astera Labs

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.