Astera Labs stock surged Monday after the maker of semiconductor connectivity systems for AI and data center infrastructure received some positive analyst comments.
On the stock market today, Astera Labs stock jumped 19.4% in heavy volume to close at 121.89.
Daniel O'Regan, managing director of equity trading at Mizuho Securities, noted the heightened interest in the stock in a client note Monday afternoon.
"The most talked-about name by far is ALAB," he said. "After a solid few days, it's having one of its best moves in months after positive comments at SemiAnalysis."
On Friday, Stifel analyst Tore Svanberg reiterated his buy rating on Astera Labs stock and raised his price target to 110 from 100. Astera ended regular-session trading last week at 102.13.
Also Friday, Astera Labs announced the opening of its new global headquarters in San Jose, Calif. The headquarters features expanded state-of-the-art R&D labs, collaborative workspaces, and an executive briefing center.
The next potential catalyst for Astera Labs is the company's second-quarter earnings report due on Aug. 5.
Astera Labs stock is on the IBD 50 list.
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