Astera Labs (NASDAQ:ALAB) Shares Gap Up to $65.79

Shares of Astera Labs, Inc. (NASDAQ:ALAB) gapped up prior to trading on Tuesday . The stock had previously closed at $65.79, but opened at $67.55. Astera Labs shares last traded at $69.80, with a volume of 247,904 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALAB. Stifel Nicolaus started coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $81.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They issued a “buy” rating and a $85.00 target price on the stock. Northland Securities assumed coverage on shares of Astera Labs in a research report on Monday, March 25th. They set an “outperform” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Roth Mkm started coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average price target of $86.09.

Astera Labs Trading Up 8.5 %

Insiders Place Their Bets

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 shares were purchased at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now directly owns 165,000 shares in the company, valued at $5,940,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Astera Labs

A hedge fund recently bought a new stake in Astera Labs stock. Seven Grand Managers LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $3,710,000. Astera Labs makes up about 1.8% of Seven Grand Managers LLC’s portfolio, making the stock its 23rd largest position.

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.