Lantronix (NASDAQ:LTRX) Price Target Cut to $5.00 by Analysts at Lake Street Capital

Lantronix (NASDAQ:LTRX) had its target price lowered by stock analysts at Lake Street Capital from $6.00 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price points to a potential upside of 57.23% from the stock’s current price.

A number of other analysts have also weighed in on LTRX. StockNews.com lowered shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $5.50 price objective on shares of Lantronix in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group lowered their target price on Lantronix from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lantronix currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Lantronix Price Performance

Shares of LTRX stock traded down $1.02 on Friday, hitting $3.18. 1,695,180 shares of the company’s stock were exchanged, compared to its average volume of 429,306. The company has a 50 day moving average of $3.74 and a 200 day moving average of $3.70. The stock has a market cap of $122.33 million, a P/E ratio of -22.71 and a beta of 1.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78. Lantronix has a 12 month low of $2.48 and a 12 month high of $5.97.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. On average, equities research analysts predict that Lantronix will post -0.07 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Lantronix

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Lantronix by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after purchasing an additional 159,671 shares in the last quarter. Walleye Capital LLC boosted its holdings in shares of 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 buying an additional 27,325 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lantronix during the 3rd quarter worth approximately $60,000. Barclays PLC increased its stake in shares of Lantronix by 235.9% in the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after acquiring an additional 43,770 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Lantronix by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 10,413 shares during the period. 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.