Lantronix (NASDAQ:LTRX) Price Target Lowered to $4.50 at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX) had its target price trimmed by Canaccord Genuity Group from $5.00 to $4.50 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on LTRX. StockNews.com cut shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $5.50 price target on shares of Lantronix in a research report on Tuesday, January 21st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.00.

Lantronix Stock Performance

LTRX stock opened at $3.18 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. Lantronix has a twelve month low of $2.48 and a twelve month high of $5.97. The business has a fifty day moving average of $3.74 and a 200-day moving average of $3.70.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.60% and a negative net margin of 3.15%. As a group, equities research analysts predict that Lantronix will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Lantronix

In related news, Director Hoshi Printer purchased 15,000 shares of Lantronix stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the director now directly owns 176,075 shares of the company’s stock, valued at $510,617.50. This represents a 9.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saleel Awsare acquired 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the acquisition, the chief executive officer now owns 233,184 shares of the company’s stock, valued at $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lantronix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTRX. Amundi bought a new stake in shares of Lantronix in the fourth quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lantronix in the 3rd quarter valued at approximately $60,000. Bank of New York Mellon Corp lifted its stake in Lantronix by 84.4% in the 4th quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after acquiring an additional 18,996 shares in the last quarter. Barclays PLC boosted its position in Lantronix by 235.9% during the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after acquiring an additional 43,770 shares during the last quarter. Finally, Walleye Capital LLC boosted its position in Lantronix by 61.9% during the 3rd quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock worth $294,000 after acquiring an additional 27,325 shares during the last quarter. 39.38% of the stock is owned by institutional investors and hedge funds.

About Lantronix

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.