Oppenheimer & Co. Inc. Purchases Shares of 26,242 Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer & Co. Inc. acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,242 shares of the company’s stock, valued at approximately $3,476,000.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Astera Labs in the fourth quarter worth approximately $66,000. Amalgamated Bank raised its position in shares of Astera Labs by 382.5% during the fourth quarter. Amalgamated Bank now owns 5,891 shares of the company’s stock worth $780,000 after purchasing an additional 4,670 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Astera Labs by 123.9% in the 4th quarter. Bank of New York Mellon Corp now owns 383,197 shares of the company’s stock worth $50,754,000 after purchasing an additional 212,055 shares in the last quarter. Trifecta Capital Advisors LLC bought a new position in shares of Astera Labs in the 4th quarter worth $43,000. Finally, Sigma Planning Corp acquired a new stake in Astera Labs in the 4th quarter valued at $2,718,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALAB has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $115.33.

Astera Labs Stock Performance

Shares of ALAB stock opened at $74.35 on Friday. The firm has a market cap of $12.06 billion and a price-to-earnings ratio of -42.98. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm’s 50-day simple moving average is $111.87 and its two-hundred day simple moving average is $86.51.

Astera Labs (NASDAQ:ALAB) last posted 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 net margin of 21.05% and a negative return on equity of 10.40%. Analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 827,990 shares of company stock worth $77,096,842.

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.