Lantronix (NASDAQ:LTRX) Given New $3.00 Price Target at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX) had its target price decreased by Canaccord Genuity Group from $4.50 to $3.00 in a report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC dropped their price objective on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday. Lake Street Capital dropped their price objective on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lantronix currently has an average rating of “Moderate Buy” and an average price target of $5.13.

Lantronix Trading Down 2.4%

LTRX opened at $2.05 on Monday. The firm’s fifty day moving average is $2.33 and its two-hundred day moving average is $3.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.69 and a current ratio of 2.56. The firm has a market cap of $79.52 million, a PE ratio of -15.77 and a beta of 1.49. Lantronix has a twelve month low of $1.91 and a twelve month high of $4.55.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. Equities research analysts anticipate that Lantronix will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Hoshi Printer bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $2.70 per share, for a total transaction of $40,500.00. Following the completion of the acquisition, the director now owns 191,425 shares of the company’s stock, valued at approximately $516,847.50. The trade was a 8.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin S. Palatnik bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $2.54 per share, for a total transaction of $50,800.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $50,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 50,000 shares of company stock worth $129,250. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

Several institutional investors and hedge funds have recently bought and sold shares of LTRX. Arrowstreet Capital Limited Partnership lifted its stake in shares of Lantronix by 3.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock valued at $1,171,000 after acquiring an additional 8,992 shares during the last quarter. Algert Global LLC raised its position in Lantronix by 49.5% during the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after purchasing an additional 9,180 shares during the last quarter. Amundi bought a new position in Lantronix during the 4th quarter worth $42,000. American Century Companies Inc. raised its position in Lantronix by 43.9% during the 4th quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock worth $181,000 after purchasing an additional 13,402 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Lantronix by 5.7% during the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 14,802 shares during the last quarter. Institutional investors own 39.38% of the company’s stock.

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.