Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Target Price at $84.70

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) has received an average rating of "Buy" from the ten ratings firms that are presently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $84.70.

Several brokerages recently weighed in on ALAB. Needham & Company LLC initiated coverage on shares of Astera Labs in a research note on Monday. They issued a "buy" rating and a $85.00 target price for the company. Morgan Stanley initiated coverage on shares of Astera Labs in a research note on Monday. They set an "overweight" rating and a $81.00 price objective for the company. Roth Mkm initiated coverage on shares of Astera Labs in a research note on Monday. They set a "buy" rating and a $85.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Astera Labs in a research note on Monday. They set a "buy" rating and a $81.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Astera Labs in a research note on Monday. They set a "buy" rating and a $85.00 price objective for the company.

Astera Labs Price Performance

ALAB stock traded down $1.43 during trading on Monday, hitting $71.30. The stock had a trading volume of 2,503,550 shares, compared to its average volume of 3,590,932. Astera Labs has a 1-year low of $50.61 and a 1-year high of $95.21.

Insider Buying and Selling

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was purchased 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.