Wellington Management Group LLP Makes New $16.03 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Wellington Management Group LLP purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 305,987 shares of the company's stock, valued at approximately $16,031,000. Wellington Management Group LLP owned 0.19% of Astera Labs as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of ALAB. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter valued at $26,000. US Bancorp DE acquired a new position in Astera Labs in the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs during the third quarter worth $49,000. Allworth Financial LP raised its stake in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs in the 2nd quarter valued at approximately $74,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Activity

In related news, Director Manuel Alba sold 11,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the sale, the director now owns 137,000 shares in the company, valued at $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,154,820 shares of company stock valued at $195,106,438 in the last ninety days.

Astera Labs Trading Up 7.9 %

Shares of Astera Labs stock traded up $9.69 during mid-day trading on Friday, reaching $132.14. 5,083,477 shares of the stock were exchanged, compared to its average volume of 3,238,231. The firm has a 50-day simple moving average of $88.64 and a 200 day simple moving average of $64.23. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $132.68.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. The firm's revenue for the quarter was up 47.1% compared to the same quarter last year. Research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent research reports. Craig Hallum raised their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on shares of 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, Barclays boosted their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has an average rating of "Buy" and an average target price of $94.67.

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.