Canaccord Genuity Group Cuts Lantronix (NASDAQ:LTRX) Price Target to $3.00

Lantronix (NASDAQ:LTRX) had its price target lowered by Canaccord Genuity Group from $4.50 to $3.00 in a research note issued to investors on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC cut their price target on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday. Lake Street Capital cut their price target on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Lantronix currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.13.

Lantronix Price Performance

LTRX stock opened at $2.35 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.69 and a current ratio of 2.56. Lantronix has a 52 week low of $1.91 and a 52 week high of $4.55. The firm’s fifty day moving average is $2.31 and its 200 day moving average is $3.03. The firm has a market cap of $91.16 million, a P/E ratio of -18.08 and a beta of 1.49.

Lantronix (NASDAQ:LTRX) last released its earnings results on Thursday, February 13th. The technology company reported ($0.06) 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 2.62%. Research analysts predict that Lantronix will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Hoshi Printer bought 15,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $2.70 per share, with a total value of $40,500.00. Following the purchase, the director now owns 191,425 shares of the company’s stock, valued at approximately $516,847.50. This trade represents a 8.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saleel Awsare bought 15,011 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $2.11 per share, for a total transaction of $31,673.21. Following the purchase, the chief executive officer now directly owns 268,391 shares in the company, valued at approximately $566,305.01. This represents a 5.92% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 75,011 shares of company stock valued at $183,723 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

A number of large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its stake in shares of Lantronix by 3.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock valued at $1,171,000 after purchasing an additional 8,992 shares in the last quarter. Algert Global LLC boosted its stake in shares of Lantronix by 49.5% during the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock valued at $114,000 after purchasing an additional 9,180 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Lantronix by 23.6% during the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock valued at $135,000 after purchasing an additional 10,381 shares in the last quarter. Amundi purchased a new position in Lantronix during the 4th quarter valued at about $42,000. Finally, Ameriprise Financial Inc. lifted its position in Lantronix by 5.7% during the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock valued at $1,137,000 after acquiring an additional 14,802 shares during the period. Institutional investors own 39.38% of the company’s stock.

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.