Lake Street Capital Cuts Lantronix (NASDAQ:LTRX) Price Target to $7.00

Lantronix (NASDAQ:LTRX) had its price target reduced by Lake Street Capital from $8.00 to $7.00 in a research note published on Tuesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Lantronix from a buy rating to a strong-buy rating in a report on Tuesday, February 13th. Needham & Company LLC restated a buy rating and issued a $7.00 price objective on shares of Lantronix in a research report on Tuesday. Finally, Roth Mkm reiterated a buy rating and issued a $9.00 price objective on shares of Lantronix in a research report on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lantronix currently has an average rating of Buy and a consensus target price of $8.50.

Lantronix Price Performance

Shares of LTRX traded down $0.04 during trading hours on Tuesday, hitting $3.64. The stock had a trading volume of 261,956 shares, compared to its average volume of 308,422. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.19. The stock has a market capitalization of $136.42 million, a price-to-earnings ratio of -20.22 and a beta of 2.05. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The company’s fifty day moving average is $3.54 and its two-hundred day moving average is $4.74.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Lantronix had a negative return on equity of 8.50% and a negative net margin of 4.48%. The business had revenue of $37.04 million for the quarter, compared to the consensus estimate of $37.20 million. On average, analysts anticipate that Lantronix will post -0.04 EPS for the current year.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 9,409 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total value of $56,736.27. Following the transaction, the insider now directly owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lantronix news, major shareholder Bernhard Bruscha sold 9,409 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares in the company, valued at $32,601,020.13. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Saleel Awsare purchased 20,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $3.91 per share, with a total value of $78,200.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares in the company, valued at $78,200. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in LTRX. Wasatch Advisors LP raised its stake in Lantronix by 11.4% during the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after buying an additional 165,711 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Lantronix in the fourth quarter worth about $148,000. First Eagle Investment Management LLC raised its position in shares of Lantronix by 4.8% during the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after purchasing an additional 24,250 shares during the period. Jump Financial LLC lifted its holdings in shares of Lantronix by 115.4% during the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after purchasing an additional 17,138 shares in the last quarter. Finally, AMH Equity Ltd grew its position in shares of Lantronix by 16.0% in the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock valued at $7,742,000 after purchasing an additional 182,552 shares during the period. 39.38% of the stock is owned by 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.