Astera Labs (NASDAQ:ALAB) Stock Price Up 2.6%

Shares of Astera Labs, Inc. (NASDAQ:ALAB) rose 2.6% during trading on Tuesday . The stock traded as high as $74.32 and last traded at $73.16. Approximately 569,009 shares changed hands during trading, a decline of 83% from the average daily volume of 3,419,672 shares. The stock had previously closed at $71.30.

Analyst Ratings Changes

ALAB has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research report on Monday. They set an “overweight” rating and a $85.00 price objective for the company. Evercore ISI initiated coverage on shares of Astera Labs in a research report on Tuesday. They set an “outperform” rating and a $100.00 price objective for the company. Northland Securities initiated coverage on shares of Astera Labs in a research report on Monday, March 25th. They set an “outperform” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Astera Labs in a research report on Monday. They set a “buy” rating and a $85.00 price objective for the company. Finally, Needham & Company LLC assumed coverage on shares of Astera Labs in a report on Monday. They issued a “buy” rating and a $85.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Stock Down 1.8 %

Insider Buying and Selling

In related news, Director Jack R. Lazar purchased 10,000 shares of Astera Labs stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $36.00 per share, with a total value of $360,000.00. Following the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.