Needham & Company LLC Cuts Lantronix (NASDAQ:LTRX) Price Target to $5.50

Lantronix (NASDAQ:LTRX) had its target price reduced by Needham & Company LLC from $7.00 to $5.50 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts also recently weighed in on LTRX. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 12th. Canaccord Genuity Group initiated coverage on shares of Lantronix in a research note on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lantronix has a consensus rating of “Buy” and an average price target of $6.50.

Lantronix Price Performance

Lantronix stock opened at $2.66 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.61. Lantronix has a one year low of $2.48 and a one year high of $6.95. The company has a market cap of $102.33 million, a P/E ratio of -19.00 and a beta of 2.14. The business has a fifty day moving average of $3.88 and a two-hundred day moving average of $3.76.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The firm had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. As a group, analysts predict 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 31,630 shares of Lantronix stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total value of $136,641.60. Following the completion of the sale, the insider now directly owns 5,293,503 shares of the company’s stock, valued at approximately $22,867,932.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Bernhard Bruscha sold 31,630 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.32, for a total transaction of $136,641.60. Following the transaction, the insider now directly owns 5,293,503 shares in the company, valued at approximately $22,867,932.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Saleel Awsare purchased 80,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the purchase, the chief executive officer now owns 233,184 shares in the company, valued at $620,269.44. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 85,065 shares of company stock valued at $356,232 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of large investors have recently bought and sold shares of LTRX. Vanguard Group Inc. increased its holdings in shares of Lantronix by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after buying an additional 131,476 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 159,671 shares during the last quarter. Herald Investment Management Ltd raised its holdings in shares of Lantronix by 17.6% in the 2nd quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after purchasing an additional 150,000 shares during the period. AWM Investment Company Inc. lifted its stake in shares of Lantronix by 29.8% in the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after purchasing an additional 227,374 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after purchasing an additional 336,781 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

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.