On July 21, Astera Labs rose 6.27% in regular trading, trading at $326.405/share, with turnover of $108 million.

On the news front, Korean media reported that Samsung Electronics, SK Hynix, and Micron have all abandoned commercialization of first-party CXL memory controllers. Downstream data center customers prefer a disaggregated procurement model, purchasing DIMM memory modules and CXL controllers separately. This shift accelerates the transfer of CXL controller design leadership toward independent chip design companies, with Astera Labs positioned as a direct beneficiary given its strong presence in high-speed interconnect solutions for cloud and AI infrastructure.

Additionally, 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 firm also raised Credo's target from $260 to $300, reflecting broader bullishness on the connectivity sector.

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