Lantronix (NASDAQ:LTRX) Price Target Raised to $5.50

Key Points

• Needham & Company raised Lantronix's price target from $4.50 to $5.50, suggesting a potential upside of 22.49% from its previous close.
• Lake Street Capital also increased its price target for the stock from $4.00 to $5.00, reinforcing a consensus rating of "Buy" among analysts.
• Major shareholder Bernhard Bruscha sold 12,993 shares at an average price of $4.64 in early September, highlighting insider trading activity.

Lantronix (NASDAQ:LTRX - Get Free Report) had its price objective upped by equities researchers at Needham & Company LLC from $4.50 to $5.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price would suggest a potential upside of 22.49% from the company's previous close.

Separately, Lake Street Capital lifted their price target on Lantronix from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Lantronix presently has a consensus rating of "Buy" and an average target price of $4.50.

Lantronix Price Performance

Shares of Lantronix stock opened at $4.49 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.54 and a quick ratio of 1.68. The business's 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $2.95. The stock has a market capitalization of $176.33 million, a P/E ratio of -14.97 and a beta of 1.44. Lantronix has a one year low of $1.91 and a one year high of $5.06.

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 12,993 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $4.64, for a total transaction of $60,287.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Lantronix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manatuck Hill Partners LLC purchased a new stake in Lantronix in the second quarter worth $302,000. Marshall Wace LLP grew its stake in Lantronix by 10.6% in the second quarter. Marshall Wace LLP now owns 446,164 shares of the technology company's stock worth $1,280,000 after purchasing an additional 42,838 shares during the period. Panagora Asset Management Inc. purchased a new stake in Lantronix in the second quarter worth $268,000. XTX Topco Ltd purchased a new stake in Lantronix in the second quarter worth $86,000. Finally, AMH Equity Ltd grew its stake in Lantronix by 24.5% in the second quarter. AMH Equity Ltd now owns 250,000 shares of the technology company's stock worth $718,000 after purchasing an additional 49,219 shares during the period. 39.38% of the stock is owned by hedge funds and other 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.

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