Astera Labs (NASDAQ:ALAB) Shares Gap Up to $65.79

Shares of Astera Labs, Inc. (NASDAQ:ALAB) gapped up prior to trading on Tuesday . The stock had previously closed at $65.79, but opened at $67.55. Astera Labs shares last traded at $69.80, with a volume of 247,904 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 target price for the company. Stifel Nicolaus initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $81.00 target price for the company. Jefferies Financial Group assumed coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective for the company. Needham & Company LLC started coverage on shares of Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Evercore ISI began coverage on Astera Labs in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.09.

Astera Labs Trading Up 8.5 %

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar purchased 10,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was purchased at an average price of $36.00 per share, with a total value of $360,000.00. Following the transaction, the director now owns 165,000 shares of the company’s stock, valued at $5,940,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Astera Labs

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