Astera Labs, Inc.’s (NASDAQ:ALAB) Lock-Up Period Set To End Tomorrow

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 expiration of Astera Labs’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC decreased their target price on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Craig Hallum reduced their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Evercore ISI dropped their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $71.36.

Astera Labs Stock Performance

Shares of ALAB stock opened at $43.45 on Friday. The company’s 50 day moving average is $45.22. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The company’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Newbridge Financial Services Group Inc. lifted its holdings in shares of Astera Labs by 11,920.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after acquiring an additional 2,980 shares during the period. Sycomore Asset Management bought a new position in Astera Labs during the second quarter worth about $2,038,000. Truist Financial Corp acquired a new stake in Astera Labs during the second quarter valued at approximately $353,000. The Manufacturers Life Insurance Company bought a new stake in shares of Astera Labs in the 2nd quarter valued at approximately $341,000. Finally, Millennium Management LLC raised its holdings in shares of Astera Labs by 136.4% in the 2nd quarter. Millennium Management LLC now owns 278,051 shares of the company’s stock worth $16,825,000 after buying an additional 160,417 shares in the last quarter.

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.