Canaccord Genuity Group Lowers Lantronix (NASDAQ:LTRX) Price Target to $4.50

Lantronix (NASDAQ:LTRX) had its price target decreased by Canaccord Genuity Group from $5.00 to $4.50 in a research note published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $5.50 price objective on shares of Lantronix in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.00.

Lantronix Stock Down 24.3 %

Shares of NASDAQ LTRX opened at $3.18 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78. The stock has a 50 day moving average price of $3.74 and a 200 day moving average price of $3.70. Lantronix has a 52 week low of $2.48 and a 52 week high of $5.97.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.60%. Equities analysts forecast that Lantronix will post -0.07 earnings per share for the current year.

Insider Activity

In other news, Director Hoshi Printer acquired 15,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the transaction, the director now directly owns 176,075 shares of the company’s stock, valued at approximately $510,617.50. This represents a 9.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saleel Awsare bought 80,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $212,800.00. Following the acquisition, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at approximately $620,269.44. This represents a 52.22 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of hedge funds have recently bought and sold shares of LTRX. Amundi bought a new stake in Lantronix in the 4th quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lantronix in the third quarter valued at approximately $60,000. Bank of New York Mellon Corp boosted its stake in shares of Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after buying an additional 18,996 shares during the period. Barclays PLC grew its position in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after buying an additional 43,770 shares in the last quarter. Finally, Walleye Capital LLC grew its position in Lantronix by 61.9% during the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock worth $294,000 after buying an additional 27,325 shares in the last quarter. 39.38% of the stock is owned by institutional investors.

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.