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

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been given an average rating of “Buy” by the eleven analysts that are covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $86.09.

Several analysts have issued reports on the company. Northland Securities initiated coverage on Astera Labs in a research note on Monday, March 25th. They issued an “outperform” rating and a $85.00 price target on the stock. Morgan Stanley assumed coverage on Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $81.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price target on shares of Astera Labs in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price target for the company. Finally, Barclays initiated coverage on shares of Astera Labs in a research report on Monday, April 15th. They issued an “overweight” rating and a $85.00 price objective on the stock.

Astera Labs Stock Performance

Shares of ALAB stock opened at $57.54 on Friday. Astera Labs has a 52 week low of $50.61 and a 52 week high of $95.21. The business’s 50 day moving average is $68.85.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates 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. On average, analysts forecast that Astera Labs will post -0.56 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Alpine Global Management LLC bought a new position in Astera Labs during the first quarter worth $272,000. Central Pacific Bank Trust Division bought a new stake in shares of Astera Labs during the 1st quarter worth about $402,000. Sei Investments Co. acquired a new position in Astera Labs in the 1st quarter valued at about $952,000. Forge First Asset Management Inc. acquired a new position in Astera Labs in the 1st quarter valued at about $1,143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Astera Labs in the 1st quarter valued at about $1,484,000.

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.