Astera Labs (NASDAQ:ALAB) Trading Down 5.5%

Posted by Michael Baxter on Apr 18th, 2024

Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report)’s stock price was down 5.5% on Thursday . The company traded as low as $68.55 and last traded at $69.15. Approximately 320,317 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,207,198 shares. The stock had previously closed at $73.21.

Analyst Ratings Changes

Several analysts recently issued reports on ALAB shares. Northland Securities began coverage on Astera Labs in a research note on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price on the stock. Needham & Company LLC initiated coverage on Astera Labs in a report on Monday. They issued a “buy” rating and a $85.00 price objective for the company. Evercore ISI initiated coverage on Astera Labs in a report on Tuesday. They set an “outperform” rating and a $100.00 price target for the company. 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. Finally, Stifel Nicolaus started coverage on Astera Labs in a research report on Monday. They set a “buy” 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, Astera Labs has an average rating of “Buy” and an average price target of $86.09.

Get Our Latest Stock Analysis on Astera Labs

Astera Labs Trading Down 3.8 %

Insider Buying and Selling at Astera Labs

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 acquired at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now owns 165,000 shares in the company, valued at $5,940,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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.