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

Astera Labs, Inc. (NASDAQ:ALAB) gapped up before the market opened 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.

Analyst Ratings Changes

Several brokerages have weighed in on ALAB. Evercore ISI began coverage on Astera Labs in a report on Tuesday, April 16th. They set an “outperform” rating and a $100.00 price objective for the company. Barclays began coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. began coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective for the company. Finally, Roth Mkm began coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Price Performance

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were acquired 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 of the company’s stock, valued at $5,940,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Astera Labs

An institutional investor recently bought a new position in Astera Labs stock. Seven Grand Managers LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $3,710,000. Astera Labs comprises approximately 1.8% of Seven Grand Managers LLC’s portfolio, making the stock its 23rd biggest holding.

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.