Oak Thistle LLC Sells 6,887 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Oak Thistle LLC cut its position in Astera Labs, Inc. (NASDAQ:ALAB) by 55.8% during the 4th quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astera Labs in the 3rd quarter valued at approximately $530,000. Avior Wealth Management LLC acquired a new position in Astera Labs during the 3rd quarter worth approximately $361,000. Maverick Capital Ltd. grew its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, State Street Corp lifted its position in Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after buying an additional 442,698 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Performance

NASDAQ ALAB opened at $131.77 on Thursday. The firm has a 50-day moving average of $117.53 and a 200-day moving average of $75.25. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALAB has been the subject of several analyst reports. Barclays raised their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley boosted 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. Finally, Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and increased their price target for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Insider Transactions at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

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.