Astera Labs’ (NASDAQ:ALAB – Get Free Report) quiet period is set to expire 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, insiders and underwriters 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.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Needham & Company LLC started coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 target price on the stock. Northland Securities started coverage on Astera Labs in a research report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price on the stock. Barclays started coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 target price on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $86.09.
Check Out Our Latest Stock Report on Astera Labs
Astera Labs Stock Up 18.7 %
Insider Buying and Selling
In related news, Director Jack R. Lazar acquired 10,000 shares of Astera Labs stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average price 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 in the company, valued at approximately $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Institutional Investors Weigh In On Astera Labs
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Value Aligned Research Advisors LLC acquired a new stake in Astera Labs during the first quarter worth $1,886,000. Seven Grand Managers LLC acquired a new stake in Astera Labs during the first quarter worth $3,710,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake 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.
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