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

Lantronix (NASDAQ:LTRX) had its target price trimmed by Craig Hallum from $7.00 to $6.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts have also issued reports on the stock. Lake Street Capital decreased their target price on shares of Lantronix from $8.00 to $7.00 and set a buy rating on the stock in a research report on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $7.00 target price on shares of Lantronix in a research note on Tuesday. StockNews.com raised Lantronix from a buy rating to a strong-buy rating in a research note on Tuesday, February 13th. Finally, Roth Mkm reaffirmed a buy rating and set a $9.00 price objective on shares of Lantronix in a research note on Tuesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $8.50.

Lantronix Stock Performance

NASDAQ LTRX opened at $3.64 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 has a market cap of $136.42 million, a price-to-earnings ratio of -20.22 and a beta of 2.05. Lantronix has a fifty-two week low of $3.08 and a fifty-two week high of $6.95. The business has a fifty day moving average of $3.54 and a 200-day moving average of $4.74.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $37.04 million during the quarter, compared to analyst estimates 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 predict that Lantronix will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare acquired 20,000 shares of Lantronix stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $3.91 per share, with a total value of $78,200.00. Following the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $78,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lantronix news, CEO Saleel Awsare purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average price of $3.91 per share, for a total transaction of $78,200.00. Following the completion of the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $78,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip G. Brace acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $3.95 per share, with a total value of $59,250.00. Following the completion of the purchase, the director now owns 27,000 shares of the company’s stock, valued at $106,650. The disclosure for this purchase can be found here. 17.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lantronix

Institutional investors have recently bought and sold shares of the business. Barclays PLC purchased a new stake in Lantronix during the third quarter worth approximately $176,000. Citigroup Inc. purchased a new stake in Lantronix during the third quarter worth approximately $35,000. Jump Financial LLC purchased a new stake in Lantronix during the third quarter worth approximately $66,000. Quadrature Capital Ltd purchased a new stake in Lantronix during the third quarter worth approximately $109,000. Finally, Algert Global LLC purchased a new stake in Lantronix during the third quarter worth approximately $50,000. 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.