Astera Labs (NASDAQ:ALAB) Stock Price Up 8.7%

Astera Labs, Inc. (NASDAQ:ALAB)’s share price was up 8.7% during mid-day trading on Friday . The stock traded as high as $78.49 and last traded at $77.80. Approximately 1,056,562 shares were traded during trading, a decline of 64% from the average daily volume of 2,920,008 shares. The stock had previously closed at $71.59.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALAB. Barclays began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 target price 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 for the company. JPMorgan Chase & Co. began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 target price for the company. Needham & Company LLC started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $86.09.

Astera Labs Trading Up 18.7 %

Insiders Place Their Bets

In related news, Director Jack R. Lazar bought 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were bought 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 in the company, valued at $5,940,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Astera Labs

Several large investors have recently bought and sold shares of ALAB. Allspring Global Investments Holdings LLC purchased a new stake in Astera Labs during the 1st quarter worth approximately $18,666,000. Seven Grand Managers LLC purchased a new stake in Astera Labs during the 1st quarter worth approximately $3,710,000. Finally, Value Aligned Research Advisors LLC purchased a new stake in shares of Astera Labs in the 1st quarter valued at $1,886,000.

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.