Astera Labs, Inc.’s (NASDAQ:ALAB) Quiet Period To Expire Tomorrow

Astera Labs’ (NASDAQ:ALAB) quiet period will expire on Monday, April 29th. Astera Labs had issued 19,800,000 shares in its initial public offering on March 20th. The total size of the offering was $712,800,000 based on an initial share price of $36.00. During Astera Labs’ quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALAB. JPMorgan Chase & Co. began coverage on shares of Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective for the company. Jefferies Financial Group began coverage on shares of Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Craig Hallum started coverage on shares of Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $90.00 price objective for the company. Needham & Company LLC started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $81.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average price target of $86.09.

Astera Labs Price Performance

ALAB stock opened at $85.00 on Friday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insiders Place Their Bets

In other news, Director Jack R. Lazar acquired 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, with a total value of $360,000.00. Following the completion of the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Value Aligned Research Advisors LLC purchased a new position in Astera Labs during the first quarter worth $1,886,000. Seven Grand Managers LLC purchased a new position in Astera Labs during the first quarter worth $3,710,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Astera Labs during the first quarter worth $18,666,000.

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.