Astera Labs (NASDAQ:ALAB) Now Covered by Morgan Stanley

Stock analysts at Morgan Stanley initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a research report issued on Monday, MarketBeat reports. The firm set an “overweight” rating and a $81.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 8.70% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Barclays started coverage on shares of Astera Labs in a research note on Monday. They set an “overweight” rating and a $85.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of Astera Labs in a research note on Monday. They set a “buy” rating and a $81.00 price target on the stock. Roth Mkm assumed coverage on shares of Astera Labs in a research note on Monday. They set a “buy” rating and a $85.00 target price on the stock. Northland Securities assumed coverage on shares of Astera Labs in a research note on Monday, March 25th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research note on Monday. They set an “overweight” rating and a $85.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Price Performance

NASDAQ:ALAB opened at $74.52 on Monday. Astera Labs has a 12 month low of $50.61 and a 12 month high of $95.21.

Insider Activity at Astera Labs

In related news, Director Jack R. Lazar acquired 10,000 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $36.00 per share, with a total value of $360,000.00. Following the transaction, the director now directly owns 165,000 shares in the company, valued at $5,940,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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.