Astera Labs (NASDAQ:ALAB) Receives New Coverage from Analysts at Needham & Company LLC

Posted by Doug Wharley on Apr 17th, 2024

Investment analysts at Needham & Company LLC began coverage on shares of Astera Labs (NASDAQ:ALAB – Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $85.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 14.06% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Roth Mkm initiated coverage on shares of Astera Labs in a research report on Monday. They set a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Astera Labs in a research report on Monday. They issued a “buy” rating and a $81.00 target price for the company. Finally, Northland Securities initiated coverage on shares of 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.09.

Get Our Latest Report on ALAB

Astera Labs Stock Up 4.5 %

ALAB stock opened at $74.52 on Monday. Astera Labs has a one year low of $50.61 and a one year high of $95.21.

Insider Activity

In related news, Director Jack R. Lazar bought 10,000 shares of Astera Labs stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director now directly owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Astera Labs Company Profile

(Get Free Report)

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.