Lantronix (NASDAQ:LTRX) Given New $5.00 Price Target at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX) had its price target cut by stock analysts at Canaccord Genuity Group from $7.50 to $5.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 91.57% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Needham & Company LLC cut their price objective on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a report on Monday. StockNews.com lowered shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Up 0.4 %

Lantronix stock traded up $0.01 during midday trading on Tuesday, reaching $2.61. The stock had a trading volume of 264,125 shares, compared to its average volume of 288,772. The stock has a market capitalization of $99.43 million, a P/E ratio of -18.79 and a beta of 2.14. The firm’s fifty day simple moving average is $3.91 and its 200-day simple moving average is $3.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95. Lantronix has a 1-year low of $2.48 and a 1-year high of $6.95.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The business had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. As a group, analysts expect that Lantronix will post -0.01 EPS for the current fiscal year.

Insider Activity

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the completion of the transaction, the insider now owns 5,373,036 shares of the company’s stock, valued at $21,492,144. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 85,065 shares of company stock worth $356,232. Insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

Several institutional investors have recently modified their holdings of the business. ProShare Advisors LLC acquired a new position in Lantronix during the 2nd quarter worth about $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the second quarter worth approximately $50,000. SG Americas Securities LLC bought a new stake in Lantronix in the first quarter valued at approximately $55,000. American Century Companies Inc. increased its position in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after purchasing an additional 5,693 shares during the period. Finally, Heron Bay Capital Management bought a new position in Lantronix during the 1st quarter worth approximately $226,000. 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.