Oppenheimer Asset Management Inc. Cuts Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. lessened its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 35.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC lifted its holdings 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 valued at $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new position in Astera Labs in the fourth quarter worth about $229,991,000. JPMorgan Chase & Co. increased its stake in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in 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. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $67.68 on Tuesday. The firm has a market cap of $10.97 billion and a PE ratio of -39.12. The firm’s 50 day simple moving average is $110.51 and its 200-day simple moving average is $87.02. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 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%. Equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus lifted their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Northland Securities raised 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 research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $115.33.

Insider Activity at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 597,990 shares of company stock worth $53,420,642 over the last three months.

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.