Astera Labs, Inc. (NASDAQ:ALAB) Stake Cut by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 89.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,645 shares of the company's stock after selling 274,342 shares during the period. Wellington Management Group LLP's holdings in Astera Labs were worth $4,191,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ALAB. Steward Partners Investment Advisory LLC boosted its stake in 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 during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the fourth quarter worth approximately $28,000. CIBC Asset Management Inc grew its holdings in Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after buying an additional 237 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALAB. Evercore ISI lifted their target price on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. William Blair initiated coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They set an "outperform" rating on the stock. Needham & Company LLC reduced their price objective on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Susquehanna began coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Finally, Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $100.00.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $100.00, for a total transaction of $60,000.00. Following the sale, the director now owns 436,563 shares in the company, valued at $43,656,300. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the sale, the chief financial officer now owns 618,996 shares of the company's stock, valued at approximately $55,852,009.08. This trade represents a 44.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,495,267 shares of company stock valued at $131,012,865 in the last three months.

Astera Labs Price Performance

Shares of ALAB traded up $0.04 during mid-day trading on Friday, hitting $90.75. The company's stock had a trading volume of 2,844,256 shares, compared to its average volume of 4,080,411. The firm has a 50-day moving average price of $74.44 and a 200 day moving average price of $92.57. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of -52.46, a PEG ratio of 6.18 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.