Astera Labs (NASDAQ:ALAB) Trading 3.2% Higher

Astera Labs, Inc. (NASDAQ:ALABGet Free Report)’s stock price traded up 3.2% during trading on Tuesday . The company traded as high as $75.05 and last traded at $74.86. 459,048 shares traded hands during trading, a decline of 83% from the average session volume of 2,756,136 shares. The stock had previously closed at $72.51.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALAB. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $85.00 price objective for the company. Barclays started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Astera Labs in a research note on Wednesday, May 8th. Craig Hallum started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $86.09.

Check Out Our Latest Analysis on Astera Labs

Astera Labs Price Performance

The stock’s fifty day simple moving average is $73.59.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new position in shares of Astera Labs during the first quarter worth approximately $272,000. Central Pacific Bank Trust Division purchased a new stake in shares of Astera Labs in the first quarter valued at about $402,000. Sei Investments Co. acquired a new stake in shares of Astera Labs during the first quarter worth about $952,000. Forge First Asset Management Inc. purchased a new position in shares of Astera Labs during the first quarter worth about $1,143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Astera Labs during the 1st quarter valued at approximately $1,484,000.

Astera Labs Company Profile

(Get Free Report)

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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