Needham & Company LLC Begins Coverage on Astera Labs (NASDAQ:ALAB)

Needham & Company LLC assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research note published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $85.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus began coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $81.00 target price on the stock. Northland Securities initiated coverage on Astera Labs in a research report on Monday, March 25th. They set an outperform rating and a $85.00 price target on the stock. Finally, Roth Mkm initiated coverage on Astera Labs in a research report on Monday. They set a buy rating and a $85.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of Buy and an average target price of $86.09.

Astera Labs Stock Performance

Astera Labs stock opened at $70.92 on Monday. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Astera Labs

An institutional investor recently bought a new position in Astera Labs stock. Allspring Global Investments Holdings LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 251,596 shares of the company’s stock, valued at approximately $18,666,000. Allspring Global Investments Holdings LLC owned about 0.16% of Astera Labs at the end of the most recent reporting period.

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.