Wellington Management Group LLP Reduces Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Wellington Management Group LLP reduced its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 89.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC.

A number of other large investors also recently modified their holdings of ALAB. Vanguard Group Inc. raised its stake in Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock valued at $221,721,000 after purchasing an additional 1,351,007 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ALAB. Needham & Company LLC dropped their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Barclays increased their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Susquehanna started coverage on shares of Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI raised their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $100.00.

Insider Buying and Selling

In other news, Director Manuel Alba sold 600 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $100.00, for a total transaction of $60,000.00. Following the completion of the sale, the director now directly owns 436,563 shares in the company, valued at approximately $43,656,300. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Sanjay Gajendra sold 88,627 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $98.11, for a total value of $8,695,194.97. Following the completion of the transaction, the chief operating officer now owns 724,257 shares of the company's stock, valued at $71,056,854.27. This represents a 10.90% decrease in their ownership of the stock. 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 over the last three months.

Astera Labs Trading Up 0.0%

Shares of Astera Labs stock traded up $0.04 on Friday, reaching $90.75. 2,843,654 shares of the company were exchanged, compared to its average volume of 4,058,307. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of -52.46, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. 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 fifty day moving average price of $73.86 and a 200-day moving average price of $92.71.

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