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

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of research reports. Barclays initiated coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Evercore ISI initiated coverage on Astera Labs in a report on Tuesday, April 16th. They set an “outperform” rating and a $100.00 price objective for the company. Northland Securities initiated coverage on Astera Labs in a report on Monday, March 25th. They set an “outperform” rating and a $85.00 price objective for the company. Finally, Roth Mkm initiated coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $86.09.

Astera Labs Stock Down 1.0 %

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Astera Labs stock. Allspring Global Investments Holdings LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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.

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.