Needham & Company LLC Begins Coverage on Astera Labs (NASDAQ:ALAB)

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

Several other analysts also recently weighed in on ALAB. Northland Securities assumed coverage on Astera Labs in a research note on Monday, March 25th. They set an outperform rating and a $85.00 target price for the company. Stifel Nicolaus assumed coverage on Astera Labs in a research note on Monday. They set a buy rating and a $81.00 target price for the company. Finally, Roth Mkm assumed coverage on Astera Labs in a research note on Monday. They set a buy rating and a $85.00 target price for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs currently has an average rating of Buy and a consensus price target of $86.09.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $70.92 on Monday. Astera Labs has a twelve month low of $50.61 and a twelve month high of $95.21.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar purchased 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was 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 in the company, valued at approximately $5,940,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Astera Labs

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

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.