Astera Labs (NASDAQ:ALAB) Shares Gap Down to $85.00

Astera Labs, Inc. (NASDAQ:ALAB) gapped down prior to trading on Monday . The stock had previously closed at $85.00, but opened at $81.28. Astera Labs shares last traded at $82.06, with a volume of 517,739 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on ALAB shares. Deutsche Bank Aktiengesellschaft assumed coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $81.00 target price on the stock. Barclays initiated coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 target price for the company. Morgan Stanley started coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an “overweight” rating and a $81.00 price target on the stock. Finally, Roth Mkm started coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $86.09.

Astera Labs Trading Up 1.4 %

Insider Buying and Selling

In other news, Director Jack R. Lazar acquired 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now owns 165,000 shares in the company, valued at $5,940,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently modified their holdings of ALAB. Value Aligned Research Advisors LLC purchased a new stake in Astera Labs during the 1st quarter valued at about $1,886,000. Seven Grand Managers LLC acquired a new stake in shares of Astera Labs during the 1st quarter worth about $3,710,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs in the 1st quarter valued at approximately $18,666,000.

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.