Astera Labs downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Tom O’Malley downgraded Astera Labs (ALAB) to Equal Weight from Overweight with an unchanged price target of $155. The company is undergoing a “major” product transition from the retiming portfolio to the switching products, the analyst tells investors in a research note. The firm says that beyond Trainium 3, it has not seen signs of Astera’s United Airlines adoption or momentum. Barclays also sees the world moving towards Ethernet.