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

Lantronix (NASDAQ:LTRX) had its price objective trimmed by Needham & Company LLC from $7.00 to $5.50 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group started coverage on Lantronix in a report on Wednesday, September 11th. They issued a “buy” rating and a $7.50 target price for the company. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $6.50.

Lantronix Price Performance

Shares of LTRX opened at $2.82 on Monday. Lantronix has a 1 year low of $2.48 and a 1 year high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. The company’s fifty day moving average is $3.88 and its two-hundred day moving average is $3.76.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (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 firm had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. On average, analysts forecast that Lantronix will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the transaction, the insider now directly owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saleel Awsare acquired 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, with a total value of $212,800.00. Following the completion of the transaction, the chief executive officer now directly owns 233,184 shares in the company, valued at approximately $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. In the last three months, insiders sold 85,065 shares of company stock worth $356,232. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Lantronix

A number of large investors have recently made changes to their positions in the stock. ProShare Advisors LLC purchased a new position in Lantronix in the 2nd quarter valued at about $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the second quarter valued at approximately $50,000. SG Americas Securities LLC purchased a new position in shares of Lantronix during the first quarter valued at approximately $55,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lantronix during the third quarter worth approximately $60,000. Finally, American Century Companies Inc. boosted its position in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after acquiring an additional 5,693 shares during the last quarter. Institutional investors and hedge funds 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.