Lantronix (NASDAQ:LTRX) Given New $5.00 Price Target at Canaccord Genuity Group

Lantronix (NASDAQ:LTRX) had its target price trimmed by Canaccord Genuity Group from $7.50 to $5.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC decreased their price target on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Monday. StockNews.com lowered shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix presently has an average rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Down 1.4 %

NASDAQ:LTRX traded down $0.04 during mid-day trading on Tuesday, hitting $2.78. The company’s stock had a trading volume of 248,777 shares, compared to its average volume of 298,167. The business’s fifty day moving average is $3.88 and its two-hundred day moving average is $3.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. Lantronix has a 1 year low of $2.48 and a 1 year high of $6.95.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. As a group, sell-side analysts anticipate that Lantronix will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the sale, the insider now owns 5,293,503 shares in the company, valued at $22,867,932.96. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saleel Awsare purchased 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $2.66 per share, with a total value of $212,800.00. Following the acquisition, the chief executive officer now directly owns 233,184 shares in the company, valued at approximately $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 85,065 shares of company stock worth $356,232. Insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in Lantronix in the 2nd quarter valued at approximately $42,000. Mackenzie Financial Corp purchased a new position in Lantronix in the 2nd quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lantronix in the 3rd quarter valued at approximately $60,000. SG Americas Securities LLC purchased a new position in Lantronix in the 1st quarter valued at approximately $55,000. Finally, American Century Companies Inc. boosted its position in Lantronix by 27.6% in the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after buying an additional 5,693 shares during the period. Institutional investors and hedge funds own 39.38% of the company’s stock.

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.