Canaccord Genuity Group Lowers Lantronix (NASDAQ:LTRX) Price Target to $3.00

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

A number of other brokerages also recently issued reports on LTRX. Needham & Company LLC cut their target price on Lantronix from $5.50 to $4.50 and set a "buy" rating for the company in a research note on Monday. Lake Street Capital decreased their target price on shares of Lantronix from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Lantronix currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.13.

Lantronix Stock Down 3.4%

Lantronix stock traded down $0.08 during trading on Monday, reaching $2.27. The stock had a trading volume of 247,583 shares, compared to its average volume of 319,554. The business has a 50 day moving average price of $2.30 and a 200 day moving average price of $3.02. The stock has a market cap of $88.05 million, a PE ratio of -17.46 and a beta of 1.49. Lantronix has a 52-week low of $1.91 and a 52-week high of $4.55. The company has a quick ratio of 1.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.15.

Lantronix (NASDAQ:LTRX - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. On average, analysts predict that Lantronix will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Hoshi Printer purchased 15,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $2.70 per share, for a total transaction of $40,500.00. Following the completion of the purchase, the director now owns 191,425 shares in the company, valued at approximately $516,847.50. This represents a 8.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saleel Awsare purchased 15,011 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $2.11 per share, with a total value of $31,673.21. Following the completion of the purchase, the chief executive officer now directly owns 268,391 shares of the company's stock, valued at approximately $566,305.01. This represents a 5.92% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 80,011 shares of company stock valued at $195,373. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

A number of institutional investors have recently made changes to their positions in the company. Amundi acquired a new position in Lantronix during the 4th quarter valued at approximately $42,000. Balyasny Asset Management L.P. bought a new stake in Lantronix in the fourth quarter worth about $79,000. Wolverine Trading LLC bought a new stake in Lantronix during the fourth quarter worth approximately $95,000. Algert Global LLC raised its holdings in Lantronix by 49.5% during the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company's stock worth $114,000 after buying an additional 9,180 shares during the period. Finally, American Century Companies Inc. lifted its holdings 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 valued at $135,000 after purchasing an additional 10,381 shares in the last quarter. 39.38% of the stock is currently owned by institutional investors.

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.