Astera Labs (NASDAQ:ALAB) Shares Up 2.6%

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price shot up 2.6% on Tuesday . The company traded as high as $74.32 and last traded at $73.16. 569,009 shares were traded during trading, a decline of 83% from the average session volume of 3,419,672 shares. The stock had previously closed at $71.30.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALAB. 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. Barclays initiated coverage on shares of Astera Labs in a research note on Monday. They set an “overweight” rating and a $85.00 target price for the company. Craig Hallum initiated coverage on shares of Astera Labs in a research note on Monday. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research note on Monday. They set an “overweight” rating and a $85.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of Astera Labs in a research note on Monday. They set a “buy” rating and a $85.00 target price for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Stock Performance

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, with a total value of $360,000.00. Following the purchase, the director now owns 165,000 shares in the company, valued at approximately $5,940,000. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

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.