Astera Labs (NASDAQ:ALAB) Shares Gap Up to $73.14

Astera Labs, Inc. (NASDAQ:ALAB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $73.14, but opened at $76.00. Astera Labs shares last traded at $71.57, with a volume of 659,113 shares trading hands.

Analyst Upgrades and Downgrades

ALAB has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target for the company. Morgan Stanley began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $81.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Astera Labs in a report on Wednesday, May 8th. Barclays started coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Roth Mkm began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $86.09.

Astera Labs Price Performance

The company has a 50-day moving average of $73.48.

Insider Buying and Selling at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of Astera Labs stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director now directly 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 is available at this link.

Institutional Trading of Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. Alpine Global Management LLC purchased a new position in shares of Astera Labs during the 1st quarter valued at $272,000. Central Pacific Bank Trust Division purchased a new stake in Astera Labs during the 1st quarter valued at $402,000. Sei Investments Co. bought a new position in Astera Labs during the 1st quarter valued at about $952,000. Forge First Asset Management Inc. purchased a new stake in shares of Astera Labs in the first quarter worth approximately $1,143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Astera Labs during the first quarter worth $1,484,000.

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.