10 Best Stocks to Buy Now for a $1 Million Portfolio

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

Number of Hedge Fund Holders: 52

On May 7, Susquehanna analyst Mehdi Hosseini raised the firm’s price recommendation on Astera Labs, Inc. (NASDAQ:ALAB) to $230 from $155. It reiterated a Neutral rating on the shares. The firm said Astera Labs reported first-quarter results and second-quarter guidance above consensus estimates. Susquehanna noted that the company continues to diversify its product revenue while gaining more connectivity content per AI rack.

The same day, Morgan Stanley analyst Joseph Moore raised the firm’s price target on Astera Labs to $240 from $210 and kept an Overweight rating on the stock. Moore said Astera is executing at a high level, with Scorpio helping drive near-term growth. He added that the company is benefiting from rising content per XPU, early leadership in PCIe Gen 6, and future opportunities tied to optical and custom solutions. According to the analyst, Astera “remains well positioned for sustained AI infrastructure growth.”

Astera Labs, Inc. (NASDAQ:ALAB) designs and delivers semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform combines semiconductor technology, microcontrollers, sensors, and software to improve performance, scalability, and data management.