Astera Labs (NASDAQ:ALAB) Shares Up 2.6%

Astera Labs, Inc. (NASDAQ:ALAB) shares were up 2.6% on Tuesday . The stock traded as high as $74.32 and last traded at $73.16. Approximately 569,009 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 3,419,672 shares. The stock had previously closed at $71.30.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft assumed 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. Roth Mkm assumed coverage on shares of Astera Labs in a research note on Monday. They issued a “buy” rating and a $85.00 target price on the stock. Evercore ISI assumed coverage on shares of Astera Labs in a research note on Tuesday. They issued an “outperform” rating and a $100.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Astera Labs in a research note on Monday. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on shares of Astera Labs in a research note on Monday. They issued a “buy” rating and a $85.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.09.

Astera Labs Price Performance

Insider Buying and Selling

In related news, Director Jack R. Lazar purchased 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average price of $36.00 per share, with a total value of $360,000.00. Following the completion of the purchase, the director now owns 165,000 shares in the company, valued at approximately $5,940,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible 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.