Analyst Quinn Bolton of Needham maintained a Buy rating on Astera Labs, Inc. (ALAB – Research Report), with a price target of $140.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that highlight Astera Labs, Inc.’s strong performance and growth potential. The company’s recent financial results exceeded expectations, driven by the success of its Taurus SCMs, Aries SCMs, and Aries PCIe retimers, showcasing effective product diversification.
Furthermore, Astera Labs’ management projects a promising future, with the Scorpio family anticipated to become the primary revenue source by 2025, contributing over 10% of total revenue. Additionally, the company continues to address potential concerns, such as those related to DeepSeek, by emphasizing favorable forecasts for high-speed data center AI capital expenditures. The growth prospects are further supported by anticipated contributions from custom ASIC and merchant GPU solutions in 2025.
According to TipRanks, Bolton is a 5-star analyst with an average return of 20.4% and a 52.82% success rate. Bolton covers the Technology sector, focusing on stocks such as Marvell, ON Semiconductor, and Semtech.
In another report released today, Barclays also maintained a Buy rating on the stock with a $135.00 price target.