Craig Hallum Lowers Lantronix (NASDAQ:LTRX) Price Target to $6.00

Lantronix (NASDAQ:LTRX) had its price objective lowered by equities research analysts at Craig Hallum from $7.00 to $6.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price points to a potential upside of 62.60% from the stock’s previous close.

Several other equities research analysts have also commented on LTRX. Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Lantronix in a report on Tuesday. Roth Mkm reissued a “buy” rating and issued a $9.00 price objective on shares of Lantronix in a research note on Tuesday. StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Lake Street Capital reduced their price target on Lantronix from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.50.

Lantronix Stock Down 1.9 %

Shares of NASDAQ:LTRX opened at $3.69 on Tuesday. The business’s 50 day moving average is $3.56 and its 200 day moving average is $4.75. The stock has a market cap of $138.30 million, a P/E ratio of -20.50 and a beta of 2.12. Lantronix has a 52-week low of $3.08 and a 52-week high of $6.95. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $37.04 million for the quarter, compared to the consensus estimate of $37.20 million. Lantronix had a negative return on equity of 8.50% and a negative net margin of 4.48%. Sell-side analysts predict that Lantronix will post -0.04 EPS for the current year.

Insider Activity

In related news, major shareholder Bernhard Bruscha sold 9,409 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the transaction, the insider now directly owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Saleel Awsare purchased 20,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $3.91 per share, for a total transaction of $78,200.00. Following the purchase, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $78,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the completion of the transaction, the insider now directly owns 5,406,471 shares of the company’s stock, valued at approximately $32,601,020.13. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Several hedge funds have recently made changes to their positions in the company. AMH Equity Ltd grew its stake in Lantronix by 13.9% during the 3rd quarter. AMH Equity Ltd now owns 1,138,682 shares of the technology company’s stock valued at $5,067,000 after purchasing an additional 138,682 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Lantronix during the third quarter worth about $66,000. Barclays PLC purchased a new stake in Lantronix in the third quarter valued at approximately $176,000. Algert Global LLC acquired a new position in Lantronix in the 3rd quarter worth approximately $50,000. Finally, Quadrature Capital Ltd acquired a new position in Lantronix in the 3rd quarter worth approximately $109,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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.