Lantronix (NASDAQ:LTRX) Price Target Cut to $5.00 by Analysts at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX) had its price target reduced by Canaccord Genuity Group from $7.50 to $5.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently commented on LTRX. Needham & Company LLC lowered their target price on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Monday, November 11th. StockNews.com cut shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.50.

Lantronix Stock Performance

Shares of LTRX stock opened at $2.83 on Tuesday. Lantronix has a 12-month low of $2.48 and a 12-month high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. The firm has a market capitalization of $108.87 million, a price-to-earnings ratio of -20.21 and a beta of 2.14. The business has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $3.75.

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

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 8,435 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total value of $33,740.00. Following the completion of the sale, the insider now directly owns 5,373,036 shares of the company’s stock, valued at $21,492,144. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saleel Awsare acquired 80,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $2.66 per share, for a total transaction 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 $620,269.44. This represents a 52.22 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 85,065 shares of company stock worth $356,232. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of LTRX. Vanguard Group Inc. grew its stake in shares of Lantronix by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after buying an additional 131,476 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after acquiring an additional 159,671 shares in the last quarter. Herald Investment Management Ltd increased its stake in shares of Lantronix by 17.6% during the 2nd quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after purchasing an additional 150,000 shares during the last quarter. AWM Investment Company Inc. raised its holdings in Lantronix by 29.8% during the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after buying an additional 227,374 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Lantronix by 65.0% in the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after buying an additional 336,781 shares during the last quarter. 39.38% of the stock is currently owned by hedge funds and other 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.