Canaccord Genuity Group Has Lowered Expectations for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX) had its price objective dropped by equities research analysts at Canaccord Genuity Group from $7.50 to $5.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 87.97% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Needham & Company LLC decreased their price objective on Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Monday. StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Up 4.7 %

LTRX stock opened at $2.66 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $3.88 and a two-hundred day moving average of $3.76. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.95. The company has a market cap of $102.33 million, a price-to-earnings ratio of -19.00 and a beta of 2.14.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. The firm had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. As a group, analysts forecast that Lantronix will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of Lantronix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the completion of the transaction, the insider now directly owns 5,373,036 shares of the company’s stock, valued at $21,492,144. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Lantronix news, CEO Saleel Awsare bought 80,000 shares of Lantronix stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the acquisition, the chief executive officer now directly owns 233,184 shares in the company, valued at $620,269.44. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Bernhard Bruscha sold 8,435 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the completion of the transaction, the insider now owns 5,373,036 shares of the company’s stock, valued at approximately $21,492,144. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,065 shares of company stock valued at $356,232. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Lantronix

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Lantronix by 30.4% during the 2nd quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock worth $2,323,000 after purchasing an additional 152,400 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Lantronix by 65.0% during the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after buying an additional 336,781 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after buying an additional 159,671 shares during the period. Herald Investment Management Ltd raised its holdings in Lantronix by 17.6% in the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock valued at $3,550,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Lantronix by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after acquiring an additional 131,476 shares during the last quarter. 39.38% of the stock is currently 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.