On July 2, Astera Labs rose 3.51% in pre-market trading, trading at 448.0 USD/share, with turnover of approximately $12.32 million. The stock continues to be supported by multiple major investment banks significantly raising their target prices in recent sessions.

On the news front, UBS raised its target price on Astera Labs from $205 to $400, nearly doubling the prior target, while maintaining a neutral rating. Previously, BofA Securities had already raised its target from $240 to $450. UBS expressed optimism on the data center CXL high-speed interconnect market, noting that Astera Labs' Leo CXL expander product has been adopted by Microsoft and is expected to enter a volume ramp phase in the second half of the year. Additionally, the stock was added to the Nasdaq 100 Index in June, which has continued to boost institutional attention and capital inflows.

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