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

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

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

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $3.18 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78. The business has a 50-day moving average of $3.74 and a two-hundred day moving average of $3.69. The stock has a market capitalization of $122.35 million, a P/E ratio of -24.46 and a beta of 1.94. Lantronix has a fifty-two week low of $2.48 and a fifty-two week high of $5.97.

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

Insiders Place Their Bets

In other news, Director Hoshi Printer bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average cost of $2.90 per share, for a total transaction of $43,500.00. Following the purchase, the director now owns 176,075 shares of the company’s stock, valued at approximately $510,617.50. This trade represents a 9.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Saleel Awsare acquired 80,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, with a total value of $212,800.00. Following the completion of the transaction, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at approximately $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew 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 last quarter. Barclays PLC lifted its holdings in Lantronix by 235.9% in the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after buying an additional 43,770 shares during the period. Walleye Capital LLC increased its stake in Lantronix by 61.9% in the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock valued at $294,000 after purchasing an additional 27,325 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after purchasing an additional 18,996 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lantronix during the third quarter worth about $60,000. 39.38% of the stock is owned by institutional investors.

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.