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

Jefferies Financial Group initiated coverage on shares of Astera Labs (NASDAQ:ALAB) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $85.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 16.87% from the stock’s previous close.

ALAB has been the subject of a number of other reports. Roth Mkm assumed coverage on shares of Astera Labs in a report on Monday. They issued a “buy” rating and a $85.00 target price for the company. Needham & Company LLC assumed coverage on shares of Astera Labs in a research note on Monday. They issued a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus began coverage on shares of Astera Labs in a research report on Monday. They set a “buy” rating and a $81.00 target price on the stock. Morgan Stanley began coverage on Astera Labs in a research report on Monday. They issued an “overweight” rating and a $81.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on Astera Labs in a research report on Monday. They set an “overweight” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Moderate Buy” and an average target price of $84.70.

Astera Labs Stock Performance

Shares of ALAB stock opened at $72.73 on Monday. Astera Labs has a 52 week low of $50.61 and a 52 week high of $95.21.

Insider Buying and Selling

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

Astera Labs Company Profile

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.