Astera Labs, Inc.’s Quiet Period To Expire on April 29th (NASDAQ:ALAB)

Astera Labs’ (NASDAQ:ALAB) quiet period is set to end on Monday, April 29th. Astera Labs had issued 19,800,000 shares in its 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 the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end 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.

Analyst Upgrades and Downgrades

ALAB has been the subject of several research analyst reports. Craig Hallum initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $90.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $81.00 price target for the company. Roth Mkm initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 price target for the company. Needham & Company LLC initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Stock Up 0.8 %

NASDAQ:ALAB opened at $71.59 on Friday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insider Buying and Selling

In related news, Director Jack R. Lazar acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average price of $36.00 per share, with a total value of $360,000.00. Following the transaction, the director now owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Astera Labs

A hedge fund recently bought a new stake in Astera Labs stock. Seven Grand Managers LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $3,710,000. Astera Labs makes up 1.8% of Seven Grand Managers LLC’s holdings, making the stock its 23rd biggest position.

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.