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

Investment analysts at Evercore ISI initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $100.00 price target on the stock. Evercore ISI’s price target points to a potential upside of 40.25% from the company’s current price.

A number of other research firms also recently commented on ALAB. Craig Hallum initiated coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $90.00 price objective for the company. Northland Securities initiated coverage on Astera Labs in a report on Monday, March 25th. They issued an “outperform” rating and a $85.00 price target for the company. Barclays initiated coverage on shares of Astera Labs in a research report on Monday. They issued an “overweight” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Astera Labs in a research report on Monday. They issued a “buy” rating and a $85.00 price objective for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Astera Labs in a research report on Monday. They issued an “overweight” rating and a $85.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $86.09.

Astera Labs Trading Down 2.0 %

Shares of ALAB opened at $71.30 on Tuesday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insider Buying and Selling

In other Astera Labs news, Director Jack R. Lazar acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average price 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 in the company, valued at $5,940,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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.