Lantronix (NASDAQ:LTRX) Price Target Lowered to $7.00 at Lake Street Capital

Lantronix (NASDAQ:LTRX) had its target price decreased by Lake Street Capital from $8.00 to $7.00 in a report released on Tuesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

LTRX has been the topic of a number of other reports. StockNews.com raised Lantronix from a buy rating to a strong-buy rating in a research note on Tuesday, February 13th. Needham & Company LLC reaffirmed a buy rating and issued a $7.00 price target on shares of Lantronix in a research note on Tuesday. Finally, Roth Mkm reiterated a buy rating and issued a $9.00 price objective on shares of Lantronix in a research report on Tuesday. Six investment 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, the stock currently has an average rating of Buy and an average price target of $8.50.

Lantronix Stock Performance

Lantronix stock opened at $3.64 on Tuesday. The firm’s fifty day moving average price is $3.54 and its 200-day moving average price is $4.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.08. The stock has a market cap of $136.42 million, a P/E 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.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings data 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 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%. On average, equities research analysts expect that Lantronix will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Lantronix

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. bought a new stake in shares of Lantronix during the third quarter valued at approximately $35,000. Algert Global LLC bought a new stake in shares of Lantronix during the third quarter valued at approximately $50,000. Jump Financial LLC bought a new stake in shares of Lantronix during the third quarter valued at approximately $66,000. Quadrature Capital Ltd bought a new stake in shares of Lantronix during the third quarter valued at approximately $109,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Lantronix during the fourth quarter valued at approximately $148,000. 39.38% of the stock is currently owned by institutional investors.

Lantronix Company Profile

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.