Lantronix (NASDAQ:LTRX) Price Target Cut to $6.00 by Analysts at Craig Hallum

Lantronix (NASDAQ:LTRX) had its price objective decreased by analysts at Craig Hallum from $7.00 to $6.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target suggests a potential upside of 56.25% from the company’s previous close.

LTRX has been the subject of several other research reports. Lake Street Capital reduced their price objective on shares of Lantronix from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday. Roth Mkm restated a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research report on Tuesday. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Lantronix in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lantronix currently has an average rating of “Buy” and a consensus price target of $8.50.

Lantronix Stock Performance

Lantronix stock traded up $0.38 during midday trading on Tuesday, hitting $3.84. The company’s stock had a trading volume of 527,401 shares, compared to its average volume of 304,975. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.19. The company has a market cap of $143.92 million, a price-to-earnings ratio of -15.36 and a beta of 2.12. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The company has a 50-day moving average price of $3.57 and a two-hundred day moving average price of $4.77.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $37.04 million during the quarter, compared to analyst estimates of $37.20 million. Lantronix had a negative net margin of 6.67% and a negative return on equity of 11.89%. As a group, sell-side analysts predict that Lantronix will post -0.04 earnings per share for the current year.

Insider Activity

In related news, CEO Saleel Awsare bought 20,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $3.91 per share, with a total value of $78,200.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $78,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Saleel Awsare purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $3.91 per share, for a total transaction of $78,200.00. Following the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $78,200. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the sale, the insider now owns 5,406,471 shares of the company’s stock, valued at $32,601,020.13. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Several institutional investors and hedge funds have recently made changes to their positions in LTRX. Wasatch Advisors LP lifted its stake in Lantronix by 11.4% in the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after buying an additional 165,711 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Lantronix during the 4th quarter valued at $148,000. First Eagle Investment Management LLC boosted its stake in Lantronix by 4.8% during the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after acquiring an additional 24,250 shares in the last quarter. Jump Financial LLC grew its holdings in Lantronix by 115.4% in the fourth quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after purchasing an additional 17,138 shares during the period. Finally, AMH Equity Ltd increased its stake in Lantronix by 16.0% in the fourth quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock valued at $7,742,000 after purchasing an additional 182,552 shares in the last quarter. 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.