Lantronix (NASDAQ:LTRX) Price Target Lowered to $4.50 at Needham & Company LLC

Lantronix (NASDAQ:LTRX - Get Free Report) had its price target cut by investment analysts at Needham & Company LLC from $5.50 to $4.50 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price suggests a potential upside of 92.31% from the company's previous close.

A number of other equities analysts have also commented on LTRX. Canaccord Genuity Group cut their price objective on Lantronix from $5.00 to $4.50 and set a "buy" rating on the stock in a research note on Friday, February 7th. Lake Street Capital dropped their price target on Lantronix from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.13.

Lantronix Trading Up 3.1%

Shares of Lantronix stock traded up $0.07 during midday trading on Monday, reaching $2.34. The company had a trading volume of 202,413 shares, compared to its average volume of 318,970. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $3.01. 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 firm has a market cap of $91.00 million, a PE ratio of -18.00 and a beta of 1.49. Lantronix has a fifty-two week low of $1.91 and a fifty-two week high of $4.55.

Lantronix (NASDAQ:LTRX - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Lantronix will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare acquired 15,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $2.53 per share, for a total transaction of $37,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 253,380 shares in the company, valued at $641,051.40. The trade was a 6.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin S. Palatnik acquired 20,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $2.54 per share, with a total value of $50,800.00. Following the acquisition, the director now owns 20,000 shares of the company's stock, valued at approximately $50,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 80,011 shares of company stock valued at $195,373. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lantronix

Hedge funds and other institutional investors have recently modified their holdings of the company. Amundi bought a new stake in shares of Lantronix during the fourth quarter valued at approximately $42,000. Balyasny Asset Management L.P. bought a new stake in shares of Lantronix during the fourth quarter valued at approximately $79,000. Wolverine Trading LLC bought a new stake in shares of Lantronix during the fourth quarter valued at approximately $95,000. Algert Global LLC grew its holdings in Lantronix by 49.5% during the fourth 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 in the last quarter. Finally, American Century Companies Inc. grew its holdings in Lantronix by 23.6% during the first quarter. American Century Companies Inc. now owns 54,318 shares of the technology company's stock worth $135,000 after buying an additional 10,381 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.