Astera Labs (NASDAQ:ALAB) Trading 2.9% Higher

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) traded up 2.9% during mid-day trading on Wednesday . The company traded as high as $70.49 and last traded at $70.37. 481,376 shares traded hands during trading, a decline of 87% from the average session volume of 3,836,171 shares. The stock had previously closed at $68.37.

Wall Street Analyst Weigh In

Separately, Northland Securities started coverage on shares of Astera Labs in a research note on Monday, March 25th. They issued an "outperform" rating and a $85.00 target price for the company.

Astera Labs Stock Performance

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar acquired 10,000 shares of the business's stock in a transaction dated 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 acquisition, the director now directly owns 165,000 shares of the company's stock, valued at approximately $5,940,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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.