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

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 public offering 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.

Analysts Set New Price Targets

Several analysts have recently commented on ALAB shares. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reduced their price objective on Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays reduced their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $71.36.

Astera Labs Price Performance

ALAB stock opened at $43.45 on Monday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $95.21. The stock’s 50-day moving average is $45.22.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Transactions at Astera Labs

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

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank acquired a new position in Astera Labs in the 2nd quarter valued at about $74,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Astera Labs during the 2nd quarter worth approximately $207,000. Alpine Global Management LLC acquired a new stake in Astera Labs during the 1st quarter worth approximately $272,000. Finally, Strategic Blueprint LLC purchased a new position in Astera Labs in the 2nd quarter valued at approximately $332,000.

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.