Astera Labs, Inc.’s Lock-Up Period Set To End on September 16th (NASDAQ:ALAB)

Astera Labs’ (NASDAQ:ALAB) lock-up period is set to expire on Monday, September 16th. Astera Labs had issued 19,800,000 shares in its IPO on March 20th. The total size of the offering was $712,800,000 based on an initial share price of $36.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALAB shares. Needham & Company LLC lowered their price target on Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Roth Mkm lowered their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $71.36.

Astera Labs Trading Down 4.1 %

NASDAQ:ALAB opened at $40.00 on Monday. The stock’s 50-day moving average is $47.08. Astera Labs has a 52-week low of $36.22 and a 52-week high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, research analysts expect that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the completion of the sale, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now directly owns 829,108 shares in the company, valued at approximately $39,780,601.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of Astera Labs stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the transaction, the general counsel now owns 325,474 shares of the company’s stock, valued at approximately $14,034,438.88. The disclosure for this sale can be found here. Insiders have sold 100,090 shares of company stock worth $4,445,659 over the last three months.

Institutional Trading of Astera Labs

Several hedge funds have recently modified their holdings of ALAB. Amalgamated Bank acquired a new stake in Astera Labs in the second quarter worth about $74,000. Legato Capital Management LLC bought a new position in shares of Astera Labs in the 2nd quarter valued at about $207,000. Alpine Global Management LLC bought a new position in shares of Astera Labs in the 1st quarter valued at about $272,000. Strategic Blueprint LLC acquired a new stake in shares of Astera Labs during the 2nd quarter worth approximately $332,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Astera Labs during the second quarter worth approximately $341,000.

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.