Wellington Management Group LLP lowered its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 89.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter worth $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the period. Institutional investors own 60.47% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on ALAB shares. Raymond James started coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. 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 report on Friday, January 17th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $111.23.
Read Our Latest Stock Analysis on ALAB
Astera Labs Stock Performance
Shares of ALAB traded up $0.67 during mid-day trading on Tuesday, reaching $60.08. The company had a trading volume of 2,298,548 shares, compared to its average volume of 3,782,531. The company has a market capitalization of $9.74 billion and a price-to-earnings ratio of -34.73. The firm has a 50-day moving average price of $72.52 and a 200 day moving average price of $91.18. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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%. As a group, research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.
Insider Activity at Astera Labs
In other news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.
About Astera Labs
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Free Report)
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.
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