Astera Labs (NASDAQ:ALAB) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a report released on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $85.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 14.06% from the company’s previous close.

A number of other analysts have also weighed in on ALAB. Morgan Stanley assumed coverage on shares of Astera Labs in a research note on Monday. They issued an “overweight” rating and a $81.00 price target for the company. Northland Securities began 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. Barclays assumed coverage on Astera Labs in a research note on Monday. They set an “overweight” rating and a $85.00 target price for the company. Stifel Nicolaus began coverage on shares of Astera Labs in a research report on Monday. They issued a “buy” rating and a $81.00 price target on the stock. Finally, 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. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and an average target price of $86.09.

Astera Labs Price Performance

Shares of ALAB opened at $74.52 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 Astera Labs news, Director Jack R. Lazar bought 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were bought at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the acquisition, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.