Astera Labs (NASDAQ:ALAB) Shares Gap Up to $72.73

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $72.73, but opened at $74.83. Astera Labs shares last traded at $77.80, with a volume of 668,768 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Astera Labs in a report on Tuesday. They set an “outperform” rating and a $100.00 target price on the stock. Needham & Company LLC assumed coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $85.00 target price on the stock. Jefferies Financial Group assumed coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $85.00 target price on the stock. Northland Securities assumed coverage on Astera Labs in a report on Monday, March 25th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Craig Hallum assumed coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $90.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $86.09.

Astera Labs Stock Performance

Insider Activity at Astera Labs

In other news, Director Jack R. Lazar bought 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, with a total value of $360,000.00. Following the transaction, the director now directly owns 165,000 shares in the company, valued at approximately $5,940,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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.