Evercore ISI Begins Coverage on Astera Labs (NASDAQ:ALAB)

Evercore ISI assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $100.00 price target on the stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC initiated coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $85.00 price target on the stock. Craig Hallum initiated coverage on Astera Labs in a research report on Monday. They issued a buy rating and a $90.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research report on Monday. They issued an overweight rating and a $85.00 price target on the stock. Northland Securities initiated coverage on Astera Labs in a research report on Monday, March 25th. They issued an outperform rating and a $85.00 price target on the stock. Finally, Barclays initiated coverage on Astera Labs in a research report on Monday. They issued an overweight rating and a $85.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average price target of $86.09.

Astera Labs Stock Down 3.1 %

ALAB opened at $70.92 on Tuesday. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Jack R. Lazar purchased 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $36.00 per share, with a total value of $360,000.00. Following the completion of the purchase, 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 through the SEC website.

Hedge Funds Weigh In On Astera Labs

An institutional investor recently bought a new position in Astera Labs stock. Allspring Global Investments Holdings LLC purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 251,596 shares of the company’s stock, valued at approximately $18,666,000. Allspring Global Investments Holdings LLC owned 0.16% of Astera Labs as of its most recent filing with the Securities & Exchange Commission.

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.