Astera Labs (NASDAQ:ALAB) Coverage Initiated by Analysts at Morgan Stanley

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

Several other analysts also recently weighed in on ALAB. JPMorgan Chase & Co. started 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. Needham & Company LLC started coverage on shares of Astera Labs in a research report on Monday. They set a buy rating and a $85.00 price objective for the company. Northland Securities assumed coverage on shares of Astera Labs in a research report on Monday, March 25th. They set an outperform rating and a $85.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Astera Labs in a research report on Monday. They issued a buy rating and a $81.00 price target for the company. Finally, Roth Mkm assumed coverage on shares of Astera Labs in a research report on Monday. They issued a buy rating and a $85.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $84.70.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $71.30 on Monday. Astera Labs has a twelve month low of $50.61 and a twelve month high of $95.21.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar acquired 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were bought at an average cost of $36.00 per share, with a total value of $360,000.00. Following the purchase, the director now owns 165,000 shares of the company’s stock, valued at approximately $5,940,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

About Astera Labs

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.