Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $76.19, but opened at $71.06. Astera Labs shares last traded at $73.17, with a volume of 2,088,466 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have commented on ALAB. Craig Hallum started coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $90.00 price objective on the stock. Barclays started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target on the stock. Roth Mkm started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus started coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Jefferies Financial Group began coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $86.09.
Read Our Latest Research Report on ALAB
Astera Labs Price Performance
Insider Buying and Selling at Astera Labs
Institutional Trading of Astera Labs
A number of hedge funds and other institutional investors have recently bought and sold shares of ALAB. Amazon Com Inc. bought a new position in Astera Labs in the 1st quarter valued at $20,608,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs in the first quarter worth $18,666,000. Jennison Associates LLC bought a new stake in Astera Labs during the first quarter valued at $11,283,000. Capstone Investment Advisors LLC purchased a new position in Astera Labs during the first quarter worth about $4,629,000. Finally, Seven Grand Managers LLC bought a new position in Astera Labs in the 1st quarter worth about $3,710,000.
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.
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