Lantronix's (LTRX) Buy Rating Reaffirmed at Needham & Company LLC

Key Points

• Needham & Company LLC has reaffirmed a "buy" rating for Lantronix (LTRX) with a target price of $4.50, reflecting a potential upside of 21.29% from the current stock price.
• Other analysts have varied opinions, with Wall Street Zen downgrading the stock to a "hold" rating and Canaccord Genuity reducing their price target to $3.00.
• The stock has shown strong performance with a 12-month range from a low of $1.91 to a high of $4.55, indicating potential volatility.

Lantronix (NASDAQ:LTRX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $4.50 target price on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 21.29% from the company's current price.

Several other analysts have also commented on the company. Wall Street Zen lowered Lantronix from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Canaccord Genuity Group dropped their price objective on shares of Lantronix from $4.50 to $3.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Lake Street Capital dropped their price objective on shares of Lantronix from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $3.83.

Lantronix Stock Performance

Shares of LTRX opened at $3.71 on Thursday. Lantronix has a 12 month low of $1.91 and a 12 month high of $4.55. The stock has a fifty day moving average price of $3.07 and a 200-day moving average price of $2.65. The company has a current ratio of 2.68, a quick ratio of 1.69 and a debt-to-equity ratio of 0.13. The firm has a market cap of $144.28 million, a PE ratio of -16.86 and a beta of 1.52.

Institutional Investors Weigh In On Lantronix

Several hedge funds have recently added to or reduced their stakes in LTRX. R Squared Ltd purchased a new stake in Lantronix in the second quarter valued at $32,000. Atria Wealth Solutions Inc. purchased a new position in Lantronix in the second quarter valued at $60,000. Balyasny Asset Management L.P. purchased a new position in Lantronix in the fourth quarter valued at $79,000. XTX Topco Ltd purchased a new position in Lantronix in the second quarter valued at $86,000. Finally, Wolverine Trading LLC purchased a new position in Lantronix in the fourth quarter valued at $95,000. 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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