On July 21, Astera Labs rose 3.12% overnight, trading at $318.67/share, with turnover of $373,300.

On the news front, Korean media reported that Samsung Electronics, SK Hynix, and Micron have all abandoned commercializing first-party CXL memory controllers. Downstream data center customers prefer a disaggregated procurement model, positioning third-party fabless companies including Astera Labs to benefit directly as CXL controller design leadership shifts toward independent chip design firms.

On the same day, Barclays raised its target price on Astera Labs from $200 to $325, citing optimism that AI compute expansion will drive sustained volume growth in high-speed interconnect chip demand. The stock had previously pulled back sharply from a July 15 high of $421.20, pressured by director-related share sale plans totaling over $170 million via Form 144 filings.

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