Astera Labs (NASDAQ:ALAB) Stock Price Up 2.6%

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALAB shares. Barclays started coverage on Astera Labs in a report on Monday. They set an “overweight” rating and a $85.00 price target for the company. Roth Mkm assumed coverage on Astera Labs in a research report on Monday. They issued a “buy” rating and a $85.00 price target for the company. Morgan Stanley assumed coverage on Astera Labs in a research report on Monday. They issued an “overweight” rating and a $81.00 price target for the company. Stifel Nicolaus assumed coverage on Astera Labs in a research report on Monday. They issued a “buy” rating and a $81.00 price target for the company. Finally, Evercore ISI assumed coverage on Astera Labs in a research report on Tuesday. They issued an “outperform” rating and a $100.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $86.09.

Astera Labs Stock Performance

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the acquisition, 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 can be accessed through this hyperlink.

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.