CNBC's Jim Cramer gave investors his take on the valuation of Astera Labs , a company that went public last week and sells data center connectivity chips to cloud and artificial intelligence outfits.
To Cramer, the stock debuted too hot and is more expensive than it should be at this point.
"While Astera Labs has a good story — and it is good, I think it'd be worth owning at some price — I think it's way too expensive at this price," he said.
Last week, Wall Street was buzzing about Reddit 's long-awaited initial public offering, but Cramer found Astera Labs to be intriguing.
However, Cramer said he felt positive about some aspects of the business, saying if Astera Labs can keep putting up sales growth, it's headed in the right direction.
Persons:
CNBC's Jim Cramer, Cramer, it's, Astera
Organizations:
Astera Labs, Broadcom, Labs