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

Lantronix (NASDAQ:LTRX) had its price target lowered by Lake Street Capital from $6.00 to $5.00 in a research report released on Friday,Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on LTRX. Canaccord Genuity Group dropped their target price on Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday. StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Finally, 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.00.

Lantronix Stock Performance

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 stock’s 50 day simple moving average is $3.74 and its 200-day simple moving average is $3.70. Lantronix has a 12-month low of $2.48 and a 12-month high of $5.97.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data 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 2.60% and a negative net margin of 3.15%. As a group, analysts expect that Lantronix will post -0.07 earnings per share for the current year.

Insider Activity at Lantronix

In other Lantronix news, Director Hoshi Printer bought 15,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saleel Awsare acquired 80,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $2.66 per share, with a total value of $212,800.00. Following the completion of the purchase, the chief executive officer now owns 233,184 shares in the company, valued at approximately $620,269.44. This represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Lantronix

A number of large investors have recently made changes to their positions in the stock. Amundi purchased a new position in Lantronix in the 4th quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lantronix in the third quarter valued at approximately $60,000. Bank of New York Mellon Corp lifted 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 buying an additional 18,996 shares during the period. Barclays PLC boosted its position in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after acquiring an additional 43,770 shares during the last quarter. Finally, 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 during the period. Institutional investors and hedge funds own 39.38% of the company’s stock.

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.