Astera Labs (NASDAQ:ALAB) Trading Up 3.2%

Astera Labs, Inc. (NASDAQ:ALAB) was up 3.2% on Tuesday . The stock traded as high as $75.05 and last traded at $74.86. Approximately 459,048 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,756,136 shares. The stock had previously closed at $72.51.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of recent research reports. Craig Hallum started coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $90.00 target price on the stock. Roth Mkm initiated 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. Stifel Nicolaus started coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $81.00 target price for the company. Evercore ISI initiated coverage on shares of Astera Labs in a research note on Tuesday, April 16th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Northland Securities started coverage on shares of Astera Labs in a research note on Monday, March 25th. They issued an “outperform” rating and a $85.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average target price of $86.09.

Astera Labs Trading Up 4.3 %

The company’s 50 day simple moving average is $73.59.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of $36.00 per share, with a total value of $360,000.00. Following the completion of the acquisition, the director now owns 165,000 shares in the company, valued at approximately $5,940,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alpine Global Management LLC bought a new position in shares of Astera Labs during the first quarter worth $272,000. Central Pacific Bank Trust Division bought a new position in Astera Labs during the first quarter worth about $402,000. Sei Investments Co. bought a new stake in shares of Astera Labs in the first quarter worth about $952,000. Forge First Asset Management Inc. acquired a new stake in shares of Astera Labs during the first quarter worth about $1,143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Astera Labs during the 1st quarter valued at about $1,484,000.

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.