Lantronix (NASDAQ:LTRX) Price Target Cut to $5.50 by Analysts at Needham & Company LLC

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

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

Lantronix Stock Performance

Shares of Lantronix stock opened at $2.82 on Monday. The firm has a fifty day moving average price of $3.88 and a 200 day moving average price of $3.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. Lantronix has a 1 year low of $2.48 and a 1 year high of $6.95.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. The business had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. Equities research analysts anticipate that Lantronix will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Lantronix

In related news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s 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 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. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saleel Awsare acquired 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the acquisition, the chief executive officer now owns 233,184 shares in the company, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 85,065 shares of company stock worth $356,232 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Trading of Lantronix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC acquired a new stake in Lantronix in the 2nd quarter valued at about $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the 2nd quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lantronix in the 3rd quarter valued at $60,000. SG Americas Securities LLC acquired a new stake in Lantronix during the 1st quarter worth $55,000. Finally, American Century Companies Inc. grew its position in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after purchasing an additional 5,693 shares during the last quarter. 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.