305,987 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 305,987 shares of the company’s stock, valued at approximately $16,031,000. Wellington Management Group LLP owned approximately 0.19% of Astera Labs at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth approximately $46,000. First Horizon Advisors Inc. purchased a new stake in Astera Labs in the third quarter valued at approximately $49,000. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Astera Labs during the second quarter worth approximately $74,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Astera Labs stock opened at $132.14 on Friday. The stock’s 50 day moving average price is $88.64 and its 200 day moving average price is $64.23. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $132.68.

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

Analysts Set New Price Targets

Several research firms recently commented on ALAB. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays increased their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $94.67.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 6.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,154,820 shares of company stock worth $195,106,438.

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.