Canaccord Genuity Group Lowers Lantronix (NASDAQ:LTRX) Price Target to $4.50

Lantronix (NASDAQ:LTRX) had its target price lowered by investment analysts at Canaccord Genuity Group from $5.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 42.36% from the stock’s previous close.

Several other analysts have also issued reports on LTRX. StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $5.50 price objective on shares of Lantronix in a research note on Tuesday, January 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.40.

Lantronix Price Performance

Shares of LTRX traded down $1.04 during midday trading on Friday, reaching $3.16. The stock had a trading volume of 1,463,015 shares, compared to its average volume of 418,791. The company has a market capitalization of $121.60 million, a price-to-earnings ratio of -22.55 and a beta of 1.94. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. Lantronix has a 12-month low of $2.48 and a 12-month high of $5.97. The company’s 50-day moving average is $3.71 and its 200 day moving average is $3.70.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. On average, equities analysts predict that Lantronix will post -0.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Hoshi Printer acquired 15,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the purchase, the director now directly owns 176,075 shares in the company, valued at approximately $510,617.50. The trade was a 9.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Saleel Awsare acquired 80,000 shares of Lantronix stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the transaction, the chief executive officer now directly owns 233,184 shares in the company, valued at $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after buying an additional 159,671 shares in the last quarter. Barclays PLC raised its stake in Lantronix by 235.9% during the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after buying an additional 43,770 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Lantronix by 61.9% in the 3rd quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock worth $294,000 after purchasing an additional 27,325 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lantronix by 84.4% in the 4th quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock worth $171,000 after buying an additional 18,996 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lantronix during the 3rd quarter valued at about $60,000. 39.38% of the stock is 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.