Lake Street Capital Trims Lantronix (NASDAQ:LTRX) Target Price to $7.00

Lantronix (NASDAQ:LTRX) had its price objective decreased by stock analysts at Lake Street Capital from $8.00 to $7.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price target would suggest a potential upside of 89.70% from the company’s previous close.

Several other equities research analysts have also recently issued reports on LTRX. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Lantronix in a research note on Tuesday. Roth Mkm reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Lantronix in a research report on Tuesday. Finally, StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lantronix has an average rating of “Buy” and an average price target of $8.50.

Lantronix Stock Down 1.9 %

Lantronix stock opened at $3.69 on Tuesday. The firm has a market capitalization of $138.30 million, a price-to-earnings ratio of -20.50 and a beta of 2.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.08. Lantronix has a fifty-two week low of $3.08 and a fifty-two week high of $6.95. The stock’s fifty day moving average is $3.56 and its two-hundred day moving average is $4.75.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) EPS 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 4.48% and a negative return on equity of 8.50%. Analysts predict that Lantronix will post -0.04 EPS for the current fiscal year.

Insider Transactions at Lantronix

In related news, CEO Saleel Awsare purchased 20,000 shares of Lantronix stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased 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 owns 20,000 shares of the company’s stock, valued at approximately $78,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lantronix news, CEO Saleel Awsare bought 20,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were bought 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 approximately $78,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bernhard Bruscha sold 9,409 shares of Lantronix 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 completion of the sale, the insider now owns 5,406,471 shares of the company’s stock, valued at approximately $32,601,020.13. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Several large investors have recently modified their holdings of LTRX. Citigroup Inc. acquired a new position in shares of Lantronix in the 3rd quarter worth approximately $35,000. Algert Global LLC bought a new position in Lantronix in the third quarter worth about $50,000. Jump Financial LLC acquired a new stake in shares of Lantronix during the 3rd quarter worth approximately $66,000. Quadrature Capital Ltd acquired a new stake in Lantronix in the third quarter worth $109,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Lantronix in the fourth quarter valued at $148,000. 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.