By otakuyassine3@gmail.com 
Wellington Management Group LLP lowered its position in shares of Astera Labs, Inc. (NASDAQ:ALAB – Free Report) by 89.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% during 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 in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Astera Labs by 3,155.6% in 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 in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.
Astera Labs Trading Up 2.2 %
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. The company has a 50 day simple moving average of $73.46 and a two-hundred day simple moving average of $90.89. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.
Astera Labs (NASDAQ:ALAB – Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.
Insider Activity
In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now directly owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 34,474 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock valued at $54,235,012 in the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on ALAB shares. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum upped their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Raymond James began coverage on Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target for the company. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $112.77.
View Our Latest Analysis on Astera Labs
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.
Further Reading
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