Astera Labs (NASDAQ:ALAB) Coverage Initiated at Barclays

Barclays assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a report issued on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $85.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Needham & Company LLC began coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $85.00 price target for the company. Northland Securities began coverage on Astera Labs in a research report on Monday, March 25th. They issued an outperform rating and a $85.00 target price for the company. Roth Mkm began coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $85.00 target price for the company. Finally, Stifel Nicolaus began coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $81.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $86.09.

Astera Labs Stock Performance

ALAB opened at $70.92 on Monday. Astera Labs has a 1 year low of $50.61 and a 1 year high of $95.21.

Insider Buying and Selling at Astera Labs

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

Institutional Investors Weigh In On Astera Labs

An institutional investor recently bought a new position in Astera Labs stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 251,596 shares of the company’s stock, valued at approximately $18,666,000. Allspring Global Investments Holdings LLC owned 0.16% of Astera Labs at the end of the most recent quarter.

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.