Astera Labs, Inc., a Prime Unicorn Index and Prime Unicorn 30 component, has seen its stock price and valuation fall significantly from its peak of $95.21 per share. After going public in March at $36 per share, Astera’s stock price quickly rose to more than double the initial price, hitting its peak within a week of the IPO. Today, Astera’s stock hit its lowest price on record at $39.41 per share, which would give the company a market cap of $5.91 billion.
According to MarketBeat, analysts have given a consensus target price of $86.09 for Astera, but there seems to be a disconnect between analyst opinions and investor actions, as put options for the company have increased in both price and volume across various strike prices in the past few weeks. Tipranks.com reported on July 29th that September 24th $35 and August 24th $40 put contracts are nearing a total volume of 1,000, with an overall put/call ratio of 6.68, indicating bearish outlooks of the company. With earnings reports expected on August 6th, Astera’s valuation hangs in the balance, and investors eagerly await the new information.
Astera Labs is a semiconductor company leading the industry in connectivity solutions for AI and cloud infrastructures. Its Intelligent Connectivity Platform provides high-speed, connectivity integrated circuits, modules, and boards, alongside COSMOS, or Connectivity System Management and Optimization Software. The company raised $604.4 million in its IPO, adding to the $234.5 million raised while private. Last valued by the Index at $10.5 billion, Astera sits in the 8th ranked spot in the Top 30, but this is subject to change as the share price continues to fluctuate. Venture investors included Fidelity Management and Research, Atreides, Sutter Hill Ventures, Intel Capital, VentureTech Alliance, GlobalLink1 Capital, and Valor Equity Partners.