Astera Labs, Inc.’s Quiet Period Set To End 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 Astera Labs’ quiet period, underwriters and any insiders that worked on the IPO are restricted 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective for the company. Roth Mkm assumed coverage on Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective on the stock. Barclays assumed coverage on Astera Labs in a report on Monday, April 15th. They issued an “overweight” rating and a $85.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.09.

Astera Labs Trading Up 18.7 %

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

Insider Activity

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of Astera Labs stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALAB. Value Aligned Research Advisors LLC acquired a new position in Astera Labs during the 1st quarter worth approximately $1,886,000. Seven Grand Managers LLC purchased a new stake in shares of Astera Labs during the first quarter worth about $3,710,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Astera Labs in the 1st quarter valued at about $18,666,000.

Astera Labs Company 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.