Astera Labs, Inc.’s Quiet Period Set 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 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 the company’s 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 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 Ratings Changes

A number of brokerages have recently commented on ALAB. Roth Mkm began coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 target price for the company. Evercore ISI assumed coverage on shares of Astera Labs in a report on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 price target for the company. Stifel Nicolaus began coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Craig Hallum initiated coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $90.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $86.09.

Astera Labs Stock Performance

ALAB stock 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.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently modified their holdings of the stock. Value Aligned Research Advisors LLC bought a new stake in Astera Labs during the first quarter worth about $1,886,000. Seven Grand Managers LLC bought a new position in Astera Labs in the first quarter valued at approximately $3,710,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Astera Labs in the first quarter valued at approximately $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.