Astera Labs (NASDAQ:ALAB) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $100.00 price target on the stock. Evercore ISI’s price objective indicates a potential upside of 40.25% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Morgan Stanley began coverage on Astera Labs in a research report on Monday. They set an “overweight” rating and a $81.00 price objective on the stock. Northland Securities started coverage on Astera Labs in a report on Monday, March 25th. They issued an “outperform” rating and a $85.00 price target on the stock. Craig Hallum started coverage on Astera Labs in a report on Monday. They issued a “buy” rating and a $90.00 price target on the stock. Barclays started coverage on Astera Labs in a report on Monday. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Roth Mkm started coverage on Astera Labs in a report on Monday. They issued a “buy” rating and a $85.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.09.

Astera Labs Stock Down 2.0 %

ALAB stock opened at $71.30 on Tuesday. Astera Labs has a twelve month low of $50.61 and a twelve month high of $95.21.

Insiders Place Their Bets

In other news, Director Jack R. Lazar acquired 10,000 shares of Astera Labs stock in a transaction on Friday, March 22nd. The shares were acquired 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 in the company, valued at approximately $5,940,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

About Astera Labs

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.