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

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 that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

ALAB has been the subject of several research reports. JPMorgan Chase & Co. began coverage on shares of Astera Labs in a research report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective for the company. Needham & Company LLC began coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Morgan Stanley assumed coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $81.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $81.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $86.09.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $71.72 on Wednesday. Astera Labs has a 1 year low of $50.61 and a 1 year high of $95.21.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of the stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $36.00 per share, with a total value of $360,000.00. Following the acquisition, the director now directly owns 165,000 shares in the company, valued at $5,940,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Trading of Astera Labs

A hedge fund recently bought a new stake in Astera Labs stock. Seven Grand Managers LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 50,000 shares of the company’s stock, valued at approximately $3,710,000. Astera Labs accounts for about 1.8% of Seven Grand Managers LLC’s investment portfolio, making the stock its 23rd largest holding.

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.