Oppenheimer Asset Management Inc. Buys Shares of 14,337 Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,337 shares of the company’s stock, valued at approximately $751,000.

A number of other hedge funds have also recently modified their holdings of ALAB. Vanguard Group Inc. bought a new position in Astera Labs in the 1st quarter worth $127,268,000. Price T Rowe Associates Inc. MD bought a new position in shares of Astera Labs in the first quarter worth about $44,514,000. Capital World Investors purchased a new position in shares of Astera Labs during the 1st quarter valued at about $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs during the 1st quarter valued at approximately $37,095,000. Finally, TimesSquare Capital Management LLC increased its holdings in Astera Labs by 158,424.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after acquiring an additional 321,601 shares in the last quarter.

Astera Labs Stock Up 4.5 %

NASDAQ:ALAB opened at $90.38 on Tuesday. The business has a 50 day simple moving average of $64.93 and a 200-day simple moving average of $59.10. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $100.09.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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 company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. Research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALAB. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $94.67.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. The trade was a 8.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 11.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,408,458 shares of company stock worth $113,124,841.

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.