Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

A highly collaborative investment professional and US software research analyst with 10+ years of international experience in equity research, treasury operations, and trading positions across multiple asset classes at leading multinational banks Citibank and Morgan Stanley, UHNWI-backed family office and European independent equity research firm. A respectable background in equity capital markets, corporate treasury, investment banking operations, equity research analysis and portfolio management.

Astera Labs IPO Valuation Update: Multiples Appear Rich, Limited Post-IPO Upside

Astera Labs IPO Preview and Valuation Analysis: Will Pricey IPO Frighten The Investors Off?

Equity Bottom-Up

<ul>
<li>Astera Labs, an overvalued fabless semiconductor company, has completed its IPO and raised ~$565M of net proceeds in the offering. The IPO was priced at $36/share.</li>
<li>Astera Labs shares jumped 70%+ in their first trading day and finished session at $62.03. The stock peaked at $95.21 on Tuesday and fell ~21% over the next 2 days.</li>
<li>According to their prospectus, ~5.9M shares of Astera Labs will be available for sale following the public release of earnings for 1Q’24, which I expect to be announced in April.</li>
</ul>


Astera Labs, an overvalued fabless semiconductor company, has completed its IPO and raised ~$565M of net proceeds in the offering. The IPO was priced at $36/share.
Astera Labs shares jumped 70%+ in their first trading day and finished session at $62.03. The stock peaked at $95.21 on Tuesday and fell ~21% over the next 2 days.
According to their prospectus, ~5.9M shares of Astera Labs will be available for sale following the public release of earnings for 1Q’24, which I expect to be announced in April.


Astera Labs: Early Lock-Up Expiry Is Coming, ~$450M Worth of Shares Will Be Available For Sale