Astera Labs, Inc. (NASDAQ:ALAB) Receives Consensus Recommendation of “Buy” from Analysts

Astera Labs, Inc. (NASDAQ:ALAB) has been given an average rating of “Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $86.09.

A number of research analysts recently commented on ALAB shares. JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective on the stock. Northland Securities initiated coverage on Astera Labs in a research note on Monday, March 25th. They issued an “outperform” rating and a $85.00 price objective on the stock. Evercore ISI started coverage on Astera Labs in a research note on Tuesday, April 16th. They set an “outperform” rating and a $100.00 target price for the company. Roth Mkm started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 price target for the company.

Insider Activity

In other news, Director Jack R. Lazar purchased 10,000 shares of Astera Labs stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the transaction, the director now owns 165,000 shares in the company, valued at $5,940,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Astera Labs during the first quarter valued at about $402,000. Sei Investments Co. bought a new stake in Astera Labs during the 1st quarter valued at approximately $952,000. Value Aligned Research Advisors LLC bought a new stake in Astera Labs during the 1st quarter valued at approximately $1,886,000. Peregrine Asset Advisers Inc. acquired a new stake in Astera Labs in the 1st quarter valued at approximately $2,515,000. Finally, Seven Grand Managers LLC bought a new position in Astera Labs in the 1st quarter worth approximately $3,710,000.

Astera Labs Trading Up 1.2 %

Astera Labs stock opened at $70.06 on Friday. Astera Labs has a 52 week low of $50.61 and a 52 week high of $95.21.

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.