Astera Labs (NASDAQ:ALAB) Stock Rating Reaffirmed by Needham & Company LLC

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $85.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 11.56% from the company’s current price.

Several other research analysts have also recently issued reports on ALAB. Barclays started coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price objective for the company. Morgan Stanley assumed coverage on shares of Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $81.00 price objective on the stock. Northland Securities began coverage on shares of Astera Labs in a report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price for the company. Roth Mkm assumed coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Evercore ISI initiated coverage on Astera Labs in a research report on Tuesday, April 16th. 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, Based on data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $86.09.

Astera Labs Trading Down 2.5 %

NASDAQ ALAB opened at $76.19 on Wednesday. Astera Labs has a 12-month low of $50.61 and a 12-month high of $95.21.

Insider Activity 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 shares were bought 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs in the first quarter worth about $18,666,000. Seven Grand Managers LLC acquired a new position in Astera Labs during the 1st quarter worth approximately $3,710,000. Value Aligned Research Advisors LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $1,886,000. Amazon Com Inc. acquired a new stake in Astera Labs in the first quarter valued at approximately $20,608,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Astera Labs during the first quarter worth $4,629,000.

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.