10 AI Stocks Making Waves on Wall Street

8. Astera Labs, Inc. (NASDAQ:ALAB)

Number of Hedge Fund Holders: 56

Astera Labs, Inc. (NASDAQ:ALAB) is one of the 10 AI Stocks Making Waves on Wall Street. On October 20, Barclays’ analyst Tom O’Malley downgraded the stock to Equal Weight from Overweight with an unchanged price target of $155.

Barclays hasn’t just downgraded Astera Labs, but also names such as Lumentum and Marvell Technology, citing how they look “less attractive compared to the AI involved names.”

The downgrade, particularly for ALAB stems from a lack of adoption of its UALink product, beyond Amazon’s (AMZN) Trainium 3.

The firm said it doesn’t see signs of Astera’s United Airlines adoption or momentum and that the world is now moving towards Ethernet.

Astera Labs, Inc. (NASDAQ:ALAB) is engaged in the design, manufacture, and selling of semiconductor-based connectivity solutions for cloud and AI infrastructure.