Astera Labs (NASDAQ:ALAB) Coverage Initiated at Evercore ISI

Evercore ISI initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $100.00 price target on the stock. Evercore ISI’s price target suggests a potential upside of 36.59% from the stock’s previous close.

ALAB has been the topic of a number of other reports. JPMorgan Chase & Co. started coverage on Astera Labs in a research note on Monday. They issued an “overweight” rating and a $85.00 price target on the stock. Jefferies Financial Group started coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $85.00 price objective on the stock. Craig Hallum started coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $90.00 price objective on the stock. Morgan Stanley started coverage on Astera Labs in a report on Monday. They set an “overweight” rating and a $81.00 price objective on the stock. Finally, Roth Mkm started coverage on Astera Labs in a report on Monday. They set a “buy” rating and a $85.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has a consensus rating of “Buy” and a consensus price target of $86.09.

Astera Labs Stock Down 1.8 %

Astera Labs stock opened at $73.21 on Tuesday. Astera Labs has a 1-year low of $50.61 and a 1-year high of $95.21.

Insider Buying and Selling

In related news, Director Jack R. Lazar purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were purchased 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 directly owns 165,000 shares in the company, valued at approximately $5,940,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.