Astera Labs (ALAB) Downgraded: Barclays Says AI Connectivity Shifts Away from Its UALink

Group 1 - Astera Labs, Inc. has been downgraded by Barclays' analyst Tom O'Malley from Overweight to Equal Weight, maintaining a price target of $155 [1] - The downgrade is attributed to the lack of adoption of Astera's UALink product beyond Amazon's Trainium 3 [1][2] - Barclays also downgraded other companies like Lumentum and Marvell Technology, indicating they appear less attractive compared to AI-focused companies [1] Group 2 - The firm does not see signs of Astera's adoption or momentum with United Airlines, noting a shift towards Ethernet technology [2] - Astera Labs specializes in designing, manufacturing, and selling semiconductor-based connectivity solutions for cloud and AI infrastructure [2]