Needham & Company LLC Reiterates “Buy” Rating for Astera Labs (NASDAQ:ALAB)

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $85.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 21.32% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley assumed coverage on shares of Astera Labs in a research report on Monday, April 15th. They set an “overweight” rating and a $81.00 target price for the company. Jefferies Financial Group started coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 price target on the stock. Roth Mkm began coverage on Astera Labs in a report on Monday, April 15th. They issued 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 on the stock. Finally, Northland Securities started coverage on Astera Labs in a research report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $86.09.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $70.06 on Wednesday. Astera Labs has a twelve month low of $50.61 and a twelve month high of $95.21.

Insider Activity

In other news, Director Jack R. Lazar bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were bought 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 directly owns 165,000 shares in the company, valued at $5,940,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Astera Labs

Large investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new position in Astera Labs in the 1st quarter worth $402,000. Sei Investments Co. bought a new position in Astera Labs in the first quarter worth about $952,000. Value Aligned Research Advisors LLC bought a new position in Astera Labs in the first quarter worth about $1,886,000. Peregrine Asset Advisers Inc. purchased a new stake in Astera Labs in the first quarter worth about $2,515,000. Finally, Seven Grand Managers LLC bought a new stake in Astera Labs during the 1st quarter valued at approximately $3,710,000.

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.