Oppenheimer Asset Management Inc. Grows Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 73.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,995 shares of the company's stock after acquiring an additional 6,783 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Astera Labs were worth $954,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALAB. Steward Partners Investment Advisory LLC grew its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the 4th quarter worth approximately $25,000. Hoey Investments Inc. grew its stake in Astera Labs by 4.2% in the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after buying an additional 200 shares in the last quarter. Sound Income Strategies LLC grew its stake in Astera Labs by 34.7% in the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after buying an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Ratings Changes

ALAB has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target for the company. Citigroup cut their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Susquehanna began coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective for the company. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a report on Monday, May 12th. Finally, Evercore ISI upped their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Astera Labs has an average rating of "Buy" and an average price target of $100.00.

Astera Labs Trading Down 7.1%

NASDAQ ALAB traded down $6.94 during trading on Friday, hitting $91.02. The company had a trading volume of 10,053,276 shares, compared to its average volume of 4,276,135. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 413.75, a price-to-earnings-growth ratio of 4.28 and a beta of 1.39. The company's fifty day moving average is $84.75 and its 200-day moving average is $90.84.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares of the company's stock, valued at $28,190,968.31. This represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the completion of the sale, the chief executive officer now directly owns 575,000 shares in the company, valued at $40,853,750. This represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,751,729 shares of company stock worth $156,008,250.

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.