Lantronix (NASDAQ:LTRX) Price Target Cut to $5.50 by Analysts at Needham & Company LLC

Lantronix (NASDAQ:LTRX) had its price target lowered by Needham & Company LLC from $7.00 to $5.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

LTRX has been the subject of several other research reports. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Canaccord Genuity Group initiated coverage on Lantronix in a research note on Wednesday, September 11th. They set a “buy” rating and a $7.50 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix has a consensus rating of “Buy” and a consensus target price of $7.00.

Lantronix Trading Down 7.8 %

Shares of LTRX stock opened at $2.60 on Monday. The stock has a market cap of $99.05 million, a price-to-earnings ratio of -18.57 and a beta of 2.14. The stock has a 50-day moving average of $3.91 and a 200-day moving average of $3.78. The company has a current ratio of 2.95, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. Lantronix has a 1-year low of $2.48 and a 1-year high of $6.95.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. The company had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. On average, equities research analysts forecast that Lantronix will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the transaction, the insider now owns 5,373,036 shares in the company, valued at approximately $21,492,144. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 85,065 shares of company stock worth $356,232. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LTRX. SG Americas Securities LLC bought a new position in shares of Lantronix in the first quarter valued at approximately $55,000. Vanguard Group Inc. lifted its holdings in Lantronix by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after acquiring an additional 131,476 shares during the period. Acadian Asset Management LLC bought a new stake in Lantronix during the first quarter worth $369,000. Heron Bay Capital Management bought a new stake in Lantronix during the first quarter worth $226,000. Finally, AWM Investment Company Inc. lifted its holdings in Lantronix by 29.8% during the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after acquiring an additional 227,374 shares during the period. Institutional investors own 39.38% of the company’s stock.

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.