Wellington Management Group LLP Sells 274,342 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Wellington Management Group LLP lowered its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 89.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 31,645 shares of the company’s stock after selling 274,342 shares during the quarter. Wellington Management Group LLP’s holdings in Astera Labs were worth $4,191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC increased its position in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley decreased their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $112.77.

Astera Labs Stock Performance

NASDAQ ALAB opened at $60.13 on Friday. The company has a market cap of $9.75 billion and a PE ratio of -34.76. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm’s 50 day moving average price is $73.46 and its 200-day moving average price is $90.89.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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%. On average, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated 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 sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 over the last quarter.

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.