Canaccord Genuity Group Has Lowered Expectations for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX) had its price objective lowered by Canaccord Genuity Group from $7.50 to $5.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

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

Lantronix Price Performance

Shares of Lantronix stock opened at $2.54 on Tuesday. The stock has a 50 day moving average of $3.89 and a 200 day moving average of $3.77. The company has a current ratio of 2.61, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. Lantronix has a fifty-two week low of $2.48 and a fifty-two week high of $6.95.

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

Insiders Place Their Bets

In other news, major shareholder Bernhard Bruscha sold 20,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $4.08, for a total value of $81,600.00. Following the sale, the insider now directly owns 5,198,971 shares in the company, valued at approximately $21,211,801.68. This trade 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 the SEC website. Insiders sold a total of 85,065 shares of company stock worth $356,232 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in shares of Lantronix in the 2nd quarter valued at about $42,000. Mackenzie Financial Corp purchased a new position in Lantronix in the second quarter worth approximately $50,000. SG Americas Securities LLC purchased a new position in Lantronix in the first quarter worth approximately $55,000. American Century Companies Inc. grew its holdings in Lantronix by 27.6% during the 2nd 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 in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in shares of Lantronix in the 1st quarter valued at approximately $226,000. Hedge funds and other 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.