Jefferies Financial Group Initiates Coverage on Astera Labs (NASDAQ:ALAB)

Jefferies Financial Group assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $85.00 target price on the stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley initiated coverage on Astera Labs in a report on Monday. They set an overweight rating and a $81.00 price target on the stock. Needham & Company LLC started coverage on Astera Labs in a report on Monday. They issued a buy rating and a $85.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Astera Labs in a report on Monday. They issued a buy rating and a $85.00 target price on the stock. Stifel Nicolaus started coverage on Astera Labs in a report on Monday. They issued a buy rating and a $81.00 target price on the stock. Finally, Barclays started coverage on Astera Labs in a report on Monday. They issued an overweight rating and a $85.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $86.09.

Astera Labs Trading Down 1.8 %

Shares of NASDAQ ALAB opened at $73.21 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 news, Director Jack R. Lazar bought 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The acquisition was disclosed in a document filed 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.