Oppenheimer & Co. Inc. Purchases New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer & Co. Inc. acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 26,242 shares of the company’s stock, valued at approximately $3,476,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs during the fourth quarter worth approximately $36,000. Global Retirement Partners LLC raised its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $42,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Astera Labs in the fourth quarter worth $43,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the company’s 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 827,990 shares of company stock valued at $77,096,842 over the last ninety days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $115.33.

Astera Labs Stock Performance

ALAB stock opened at $74.35 on Friday. The company has a market capitalization of $12.06 billion and a P/E ratio of -42.98. The company has a fifty day moving average price of $111.87 and a 200-day moving average price of $86.51. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.