Lake Street Capital Has Lowered Expectations for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX) had its target price lowered by Lake Street Capital from $5.00 to $4.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

LTRX has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $5.50 price target on shares of Lantronix in a report on Tuesday, January 21st. Canaccord Genuity Group cut their price objective on Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, February 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.75.

Lantronix Stock Performance

Shares of Lantronix stock opened at $2.10 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15. The company has a market cap of $81.46 million, a PE ratio of -16.15 and a beta of 1.49. The company has a 50 day moving average of $2.34 and a 200-day moving average of $3.07. Lantronix has a 1-year low of $1.91 and a 1-year high of $4.55.

Lantronix (NASDAQ:LTRX) last issued its earnings results on Monday, May 5th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.62%. As a group, equities research analysts forecast that Lantronix will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Lantronix

In related news, Director Kevin S. Palatnik purchased 20,000 shares of Lantronix stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.54 per share, for a total transaction of $50,800.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $50,800. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hoshi Printer purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 50,000 shares of company stock worth $129,250. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

A number of institutional investors have recently modified their holdings of the company. Barclays PLC boosted its position in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after acquiring an additional 43,770 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lantronix by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock valued at $1,394,000 after purchasing an additional 10,413 shares in the last quarter. Amundi acquired a new stake in Lantronix during the fourth quarter worth approximately $42,000. Truffle Hound Capital LLC bought a new stake in Lantronix in the fourth quarter worth approximately $4,120,000. Finally, Bank of New York Mellon Corp lifted its stake in Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after buying an additional 18,996 shares during the period. 39.38% of the stock is owned by 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.