Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Target Price at $86.09

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven ratings firms that are presently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $86.09.

ALAB has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Astera Labs in a report on Monday, April 15th. They set a "buy" rating and a $85.00 target price on the stock. Stifel Nicolaus started 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. JPMorgan Chase & Co. started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set an "overweight" rating and a $85.00 price target on the stock. Craig Hallum started coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a "buy" rating and a $90.00 price target on the stock. Finally, Northland Securities started coverage on shares of Astera Labs in a research note on Monday, March 25th. They set an "outperform" rating and a $85.00 price target on the stock.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of ALAB. Allspring Global Investments Holdings LLC bought a new stake in shares of Astera Labs in the 1st quarter worth about $18,666,000. Seven Grand Managers LLC bought a new stake in shares of Astera Labs in the 1st quarter worth about $3,710,000. Value Aligned Research Advisors LLC bought a new stake in shares of Astera Labs in the 1st quarter worth about $1,886,000. Amazon Com Inc. bought a new stake in shares of Astera Labs in the 1st quarter worth about $20,608,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Astera Labs in the 1st quarter worth about $4,629,000.

Astera Labs Stock Up 4.5 %

Shares of ALAB traded up $2.63 during mid-day trading on Friday, reaching $60.51. The company had a trading volume of 3,002,041 shares, compared to its average volume of 1,527,261. The company's fifty day simple moving average is $68.85. Astera Labs has a fifty-two week low of $50.61 and a fifty-two week high of $95.21.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($1.62). The company had revenue of $65.26 million for the quarter, compared to analyst estimates of $56.65 million. As a group, equities research analysts anticipate that Astera Labs will post -0.56 earnings per share for the current year.

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.