Astera Labs (NASDAQ:ALAB) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a report released on Monday morning, Marketbeat reports. The firm issued an overweight rating and a $81.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays began coverage on shares of Astera Labs in a research report on Monday. They set an overweight rating and a $85.00 price objective for the company. JPMorgan Chase & Co. began coverage on Astera Labs in a research note on Monday. They issued an overweight rating and a $85.00 price objective on the stock. Roth Mkm initiated coverage on Astera Labs in a research note on Monday. They set a buy rating and a $85.00 target price for the company. Stifel Nicolaus started coverage on shares of Astera Labs in a research note on Monday. They issued a buy rating and a $81.00 price target on the stock. Finally, Needham & Company LLC began coverage on shares of Astera Labs in a research note on Monday. They issued a buy rating and a $85.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of Buy and a consensus price target of $86.09.

Astera Labs Trading Down 3.1 %

Shares of ALAB stock opened at $70.92 on Monday. Astera Labs has a 12-month low of $50.61 and a 12-month high of $95.21.

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average price of $36.00 per share, with a total value of $360,000.00. Following the completion of the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Astera Labs

A hedge fund recently bought a new stake in Astera Labs stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 251,596 shares of the company’s stock, valued at approximately $18,666,000. Allspring Global Investments Holdings LLC owned about 0.16% of Astera Labs as of its most recent SEC filing.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.