Wellington Management Group LLP Buys Shares of 305,987 Astera Labs, Inc. (NASDAQ:ALAB)

Wellington Management Group LLP purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 305,987 shares of the company’s stock, valued at approximately $16,031,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Maverick Capital Ltd. raised its position in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Astera Labs during the third quarter valued at approximately $52,049,000. Finally, The Manufacturers Life Insurance Company boosted its position in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after acquiring an additional 873,412 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,154,820 shares of company stock valued at $195,106,438.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALAB. Citigroup began coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $94.67.

Astera Labs Price Performance

Shares of ALAB stock opened at $132.14 on Friday. The company’s fifty day simple moving average is $88.64 and its 200-day simple moving average is $64.23. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $132.68.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Astera Labs 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.