Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $76.19, but opened at $71.06. Astera Labs shares last traded at $73.17, with a volume of 2,088,466 shares traded.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ALAB shares. Jefferies Financial Group initiated coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price target on the stock. Evercore ISI started coverage on Astera Labs in a report on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Astera Labs in a research note on Wednesday. Northland Securities initiated 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 on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Astera Labs in a report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $86.09.
Check Out Our Latest Stock Analysis on ALAB
Astera Labs Stock Down 8.9 %
Insider Activity at Astera Labs
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division bought a new stake in shares of Astera Labs during the first quarter valued at approximately $402,000. Sei Investments Co. bought a new position in shares of Astera Labs during the 1st quarter valued at about $952,000. Value Aligned Research Advisors LLC purchased a new position in shares of Astera Labs during the first quarter valued at about $1,886,000. Peregrine Asset Advisers Inc. bought a new stake in shares of Astera Labs in the first quarter worth about $2,515,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of Astera Labs in the first quarter worth about $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.
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