Astera Labs (NASDAQ:ALAB) Earns Buy Rating from Analysts at Needham & Company LLC

Posted by Joe Tyrrell on Apr 18th, 2024

Needham & Company LLC initiated coverage on shares of Astera Labs (NASDAQ:ALAB – Free Report) in a report issued on Monday, Marketbeat reports. The firm issued a buy rating and a $85.00 price target on the stock.

ALAB has been the topic of a number of other research reports. Stifel Nicolaus started coverage on shares of Astera Labs in a report on Monday. They set a buy rating and a $81.00 target price on the stock. Northland Securities started coverage on shares of Astera Labs in a report on Monday, March 25th. They set an outperform rating and a $85.00 target price on the stock. Finally, Roth Mkm started coverage on shares of Astera Labs in a report on Monday. They set a buy rating and a $85.00 target price on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs has an average rating of Buy and a consensus target price of $86.09.

Check Out Our Latest Stock Report on ALAB

Astera Labs Stock Down 1.8 %

Shares of ALAB stock opened at $73.21 on Monday. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar purchased 10,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average price of $36.00 per share, with a total value of $360,000.00. Following the acquisition, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Astera Labs Company Profile

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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.