Lantronix (NASDAQ:LTRX) Price Target Cut to $3.00 by Analysts at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX - Free Report) had its price target reduced by Canaccord Genuity Group from $4.50 to $3.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other equities analysts have also recently issued research reports about the company. Lake Street Capital lowered their price target on Lantronix from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, May 9th. Needham & Company LLC lowered their price target on Lantronix from $5.50 to $4.50 and set a "buy" rating for the company in a report on Monday, May 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.13.

Lantronix Stock Performance

LTRX traded up $0.07 during trading on Monday, hitting $2.34. The stock had a trading volume of 202,413 shares, compared to its average volume of 318,970. The firm has a market cap of $91.00 million, a price-to-earnings ratio of -18.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69. The company has a 50 day moving average price of $2.29 and a 200-day moving average price of $3.01. Lantronix has a one year low of $1.91 and a one year high of $4.55.

Lantronix (NASDAQ:LTRX - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share 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 2.62%. As a group, research analysts predict that Lantronix will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Kevin S. Palatnik purchased 20,000 shares of Lantronix stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.54 per share, for a total transaction of $50,800.00. Following the transaction, the director now owns 20,000 shares of the company's stock, valued at approximately $50,800. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Saleel Awsare purchased 15,000 shares of Lantronix stock in a transaction on Friday, February 28th. The stock was bought at an average price of $2.53 per share, for a total transaction of $37,950.00. Following the transaction, the chief executive officer now directly owns 253,380 shares in the company, valued at approximately $641,051.40. The trade was a 6.29% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 80,011 shares of company stock worth $195,373 in the last 90 days. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Lantronix

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Lantronix by 3.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company's stock valued at $1,171,000 after purchasing an additional 8,992 shares in the last quarter. Algert Global LLC raised its stake in shares of Lantronix by 49.5% in the fourth quarter. Algert Global LLC now owns 27,728 shares of the technology company's stock worth $114,000 after purchasing an additional 9,180 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Lantronix by 23.6% in the first quarter. American Century Companies Inc. now owns 54,318 shares of the technology company's stock worth $135,000 after purchasing an additional 10,381 shares during the last quarter. Amundi purchased a new stake in shares of Lantronix in the fourth quarter worth approximately $42,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Lantronix by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company's stock valued at $1,137,000 after acquiring an additional 14,802 shares in the last quarter. Institutional investors own 39.38% of the company's stock.

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.