On June 30, Astera Labs rose 3.51% in regular trading, trading at $472.46/share, with turnover of $210 million. The stock continued its upward momentum following consecutive major target price upgrades from two leading global investment banks.

On June 29, UBS nearly doubled its target price on Astera Labs from $205 to $400, maintaining a Neutral rating. Earlier on June 23, BofA Securities had raised its target from $240 to $450, also maintaining a Neutral rating. UBS expressed optimism on the data center high-speed interconnect technology market, noting that Astera Labs' Leo CXL expander product has been adopted by Microsoft and is positioned to benefit from CXL market expansion, though current annual shipment revenue remains at approximately $25 million. UBS raised its CXL-related revenue forecast for the broader market to approximately $2 billion. Additionally, the stock was added to the Nasdaq-100 Index on June 12, further boosting institutional attention.

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