Needham & Company LLC Lowers Lantronix (NASDAQ:LTRX) Price Target to $4.50

Lantronix (NASDAQ:LTRX) had its price target reduced by equities research analysts at Needham & Company LLC from $5.50 to $4.50 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 110.28% from the stock’s previous close.

LTRX has been the topic of several other reports. Lake Street Capital dropped their target price on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group dropped their target price on shares of Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.13.

Lantronix Stock Up 4.4%

Lantronix stock opened at $2.14 on Monday. The company’s 50 day simple moving average is $2.31 and its 200 day simple moving average is $3.04. Lantronix has a fifty-two week low of $1.91 and a fifty-two week high of $4.55. The firm has a market capitalization of $83.01 million, a price-to-earnings ratio of -16.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.06) EPS 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%. As a group, sell-side analysts anticipate that Lantronix will post -0.23 EPS for the current year.

Insider Activity

In other news, CEO Saleel Awsare bought 15,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $2.53 per share, for a total transaction of $37,950.00. Following the completion of the acquisition, the chief executive officer now owns 253,380 shares in the company, valued at approximately $641,051.40. This represents a 6.29% increase in their ownership of the stock. The acquisition 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 stock in a transaction that occurred 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 completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $50,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 65,011 shares of company stock worth $160,923 over the last ninety days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in Lantronix by 3.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock worth $1,171,000 after buying an additional 8,992 shares during the last quarter. Algert Global LLC increased its holdings in Lantronix by 49.5% during the fourth quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after buying an additional 9,180 shares during the last quarter. American Century Companies Inc. increased its holdings in Lantronix by 23.6% during the first quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock worth $135,000 after buying an additional 10,381 shares during the last quarter. Amundi acquired a new position in Lantronix during the fourth quarter worth $42,000. Finally, Ameriprise Financial Inc. increased its holdings in Lantronix by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock worth $1,137,000 after buying an additional 14,802 shares during the last quarter. 39.38% of the stock is currently owned by institutional investors and hedge funds.

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.