Evercore ISI Initiates Coverage on Astera Labs (NASDAQ:ALAB)

Evercore ISI initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $100.00 price target on the stock.

A number of other research firms also recently weighed in on ALAB. Needham & Company LLC assumed coverage on Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 price target for the company. Jefferies Financial Group began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a buy rating and a $85.00 target price for the company. Craig Hallum assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a buy rating and a $90.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an overweight rating and a $85.00 price objective for the company. Finally, Barclays began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an overweight rating and a $85.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $86.09.

Astera Labs Price Performance

NASDAQ:ALAB opened at $64.49 on Tuesday. Astera Labs has a 52-week low of $50.61 and a 52-week high of $95.21.

Insider Buying and Selling at Astera Labs

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

Institutional Investors Weigh In On Astera Labs

A hedge fund recently bought a new stake in Astera Labs stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 quarter.

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.