Astera Labs (NASDAQ:ALAB) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum began coverage on shares of Astera Labs (NASDAQ:ALAB - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The firm set a "buy" rating and a $90.00 price target on the stock. Craig Hallum's target price would indicate a potential upside of 26.23% from the company's previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC assumed coverage on Astera Labs in a research report on Monday. They set a "buy" rating and a $85.00 target price for the company. Roth Mkm initiated coverage on Astera Labs in a report on Monday. They set a "buy" rating and a $85.00 price target on the stock. Stifel Nicolaus initiated coverage on Astera Labs in a report on Monday. They set a "buy" rating and a $81.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a report on Monday. They set a "buy" rating and a $85.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Astera Labs in a report on Monday. They set an "overweight" rating and a $81.00 price target on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $84.70.

Astera Labs Trading Down 2.0 %

Shares of NASDAQ ALAB traded down $1.43 during midday trading on Monday, reaching $71.30. 2,503,550 shares of the stock traded hands, compared to its average volume of 3,590,932. Astera Labs has a one year low of $50.61 and a one year high of $95.21.

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of Astera Labs stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the purchase, 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 SEC, which can be accessed through this link.

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.