Craig Hallum Cuts Lantronix (NASDAQ:LTRX) Price Target to $6.00

Lantronix (NASDAQ:LTRX) had its price objective decreased by Craig Hallum from $7.00 to $6.00 in a report issued on Tuesday, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Lake Street Capital cut their price objective on Lantronix from $8.00 to $7.00 and set a buy rating on the stock in a research note on Tuesday. Roth Mkm restated a buy rating and issued a $9.00 price objective on shares of Lantronix in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $7.00 target price on shares of Lantronix in a research note on Tuesday. Finally, StockNews.com raised shares of Lantronix from a buy rating to a strong-buy rating in a research report on Tuesday, February 13th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $8.50.

Lantronix Stock Down 1.1 %

Shares of NASDAQ LTRX traded down $0.04 during mid-day trading on Tuesday, reaching $3.64. The company 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 quick ratio of 1.19 and a current ratio of 2.08. Lantronix has a twelve month low of $3.08 and a twelve month high of $6.95. The stock’s 50 day moving average is $3.54 and its 200-day moving average is $4.74. The stock has a market capitalization of $136.42 million, a PE ratio of -20.22 and a beta of 2.05.

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

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 9,409 shares of Lantronix stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $6.03, for a total transaction of $56,736.27. Following the sale, the insider now owns 5,406,471 shares in the company, valued at $32,601,020.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Philip G. Brace acquired 15,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $3.95 per share, for a total transaction of $59,250.00. Following the completion of the purchase, the director now directly owns 27,000 shares of the company’s stock, valued at approximately $106,650. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the company’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 sale, the insider now directly owns 5,406,471 shares in the company, valued at $32,601,020.13. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its position in Lantronix by 11.4% in the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after acquiring an additional 165,711 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Lantronix in the 4th quarter worth approximately $148,000. First Eagle Investment Management LLC lifted its holdings in Lantronix by 4.8% during the 4th quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after buying an additional 24,250 shares in the last quarter. Jump Financial LLC boosted its position in Lantronix by 115.4% in the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after buying an additional 17,138 shares during the last quarter. Finally, AMH Equity Ltd increased its stake 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 buying an additional 182,552 shares during the period. 39.38% of the stock is owned by institutional investors and hedge funds.

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.