Astera Labs’ (ALAB) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Astera Labs (NASDAQ:ALAB) in a report released on Wednesday, Benzinga reports. They currently have a $85.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Roth Mkm initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a buy rating and a $85.00 price objective for the company. Craig Hallum began coverage on Astera Labs in a research report on Monday, April 15th. They set a buy rating and a $90.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a buy rating and a $85.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an overweight rating and a $85.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Astera Labs in a report on Monday, April 15th. They set an overweight rating and a $81.00 price objective on the stock. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $86.09.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $69.26 on Wednesday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALAB. Allspring Global Investments Holdings LLC bought a new position in Astera Labs during the first quarter worth $18,666,000. Seven Grand Managers LLC acquired a new stake in shares of Astera Labs during the 1st quarter worth about $3,710,000. Value Aligned Research Advisors LLC bought a new stake in shares of Astera Labs during the 1st quarter worth about $1,886,000. Amazon Com Inc. acquired a new position in Astera Labs in the 1st quarter valued at about $20,608,000. Finally, Capstone Investment Advisors LLC bought a new position in Astera Labs in the 1st quarter valued at about $4,629,000.

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.