Lantronix (NASDAQ:LTRX) PT Lowered to $7.00

Lantronix (NASDAQ:LTRX) had its target price dropped by equities research analysts at Lake Street Capital from $8.00 to $7.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 89.70% from the company’s current price.

A number of other brokerages have also commented on LTRX. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Lantronix in a research 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. Finally, StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.50.

Lantronix Stock Performance

Shares of Lantronix stock opened at $3.69 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $3.56 and its two-hundred day moving average is $4.75. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The company has a market capitalization of $138.30 million, a PE ratio of -20.50 and a beta of 2.12.

Lantronix (NASDAQ:LTRX) last issued its 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 company had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $37.20 million. Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.50%. As a group, analysts expect that Lantronix will post -0.04 earnings per share for the current year.

Insider Activity at Lantronix

In related news, CEO Saleel Awsare purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $3.91 per share, for a total transaction of $78,200.00. Following the acquisition, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Bernhard Bruscha sold 9,409 shares of Lantronix stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $6.03, for a total value of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares of the company’s stock, valued at approximately $32,601,020.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saleel Awsare bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $3.91 per share, with a total value of $78,200.00. Following the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $78,200. The disclosure for this purchase can be found here. 17.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lantronix

Institutional investors and hedge funds have recently bought and sold shares of the company. AMH Equity Ltd lifted its holdings in shares of 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 position in Lantronix during the 3rd quarter valued at about $66,000. Barclays PLC purchased a new stake in Lantronix in the third quarter valued at about $176,000. Algert Global LLC acquired a new stake in Lantronix in the third quarter worth about $50,000. Finally, Quadrature Capital Ltd acquired a new stake in Lantronix in the third quarter worth about $109,000. 39.38% of the stock is 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.