Lake Street Capital Cuts Lantronix (NASDAQ:LTRX) Price Target to $5.00

Lantronix (NASDAQ:LTRX) had its price objective cut by Lake Street Capital from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

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

Lantronix Price Performance

LTRX stock opened at $3.18 on Friday. The company has a market capitalization of $122.35 million, a P/E ratio of -24.46 and a beta of 1.94. 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 52-week low of $2.48 and a 52-week high of $5.97. The business has a 50-day simple moving average of $3.74 and a two-hundred day simple moving average of $3.69.

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

Insider Activity at Lantronix

In other Lantronix news, Director Hoshi Printer acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average price of $2.90 per share, with a total value of $43,500.00. Following the transaction, the director now directly owns 176,075 shares in the company, valued at approximately $510,617.50. The trade was a 9.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saleel Awsare bought 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $2.66 per share, with a total value 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 trade represents a 52.22 % increase in their position. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.

Institutional Trading of Lantronix

Several hedge funds have recently made changes to their positions in LTRX. Dimensional Fund Advisors LP raised 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 buying an additional 159,671 shares in the last quarter. Barclays PLC grew its stake in Lantronix by 235.9% in 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 in the last quarter. Walleye Capital LLC grew its stake in Lantronix by 61.9% in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lantronix by 84.4% during 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 position in shares of Lantronix during the third quarter valued at approximately $60,000. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Lantronix Company Profile

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.