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

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

A number of other brokerages have also recently commented on ALAB. Northland Securities started coverage on Astera Labs in a research report on Monday, March 25th. They set an outperform rating and a $85.00 price target on the stock. Stifel Nicolaus started coverage on Astera Labs in a research note on Monday. They set a buy rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Astera Labs in a research note on Monday. They set an overweight rating and a $85.00 price objective on the stock. Needham & Company LLC started coverage on Astera Labs in a research note on Monday. They set a buy rating and a $85.00 price objective on the stock. Finally, Barclays started coverage on Astera Labs in a research note on Monday. They set an overweight rating and a $85.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and an average target price of $86.09.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $73.21 on Monday. Astera Labs has a one year low of $50.61 and a one year high of $95.21.

Insiders Place Their Bets

In other news, Director Jack R. Lazar bought 10,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the purchase, the director now directly owns 165,000 shares in the company, valued at approximately $5,940,000. The purchase was disclosed in a document filed 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.