Oppenheimer Asset Management Inc. Makes New $751,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

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

Several other large investors have also recently modified their holdings of the stock. Sei Investments Co. bought a new position in Astera Labs during the 1st quarter worth approximately $952,000. Vanguard Group Inc. bought a new position in shares of Astera Labs in the first quarter worth approximately $127,268,000. Rakuten Securities Inc. purchased a new position in shares of Astera Labs in the third quarter worth $291,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs during the 1st quarter valued at $44,514,000. Finally, Lisanti Capital Growth LLC boosted its position in Astera Labs by 99.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 59,990 shares of the company’s stock valued at $3,143,000 after buying an additional 29,875 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALAB shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum raised their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $94.67.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. The trade was a 2.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares of the company’s stock, 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. Insiders sold 1,408,458 shares of company stock worth $113,124,841 over the last three months.

Astera Labs Trading Up 4.5 %

Shares of ALAB opened at $90.38 on Tuesday. The business’s fifty day simple moving average is $64.93 and its two-hundred day simple moving average is $59.10. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $100.09.

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

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.