Lake Street Capital Issues Pessimistic Forecast for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX) had its target price decreased by equities researchers at Lake Street Capital from $6.00 to $5.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective suggests a potential upside of 57.23% from the stock’s current price.

Several other research analysts have also recently weighed in on LTRX. Canaccord Genuity Group cut their price target on shares of Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $5.50 price objective on shares of Lantronix in a research report on Tuesday, January 21st. Finally, StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.00.

Lantronix Stock Down 24.3 %

LTRX traded down $1.02 during midday trading on Friday, reaching $3.18. 1,695,180 shares of the company were exchanged, compared to its average volume of 429,306. Lantronix has a one year low of $2.48 and a one year high of $5.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. The company’s fifty day moving average price is $3.74 and its 200 day moving average price is $3.70. The company has a market cap of $122.33 million, a price-to-earnings ratio of -22.71 and a beta of 1.94.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. As a group, analysts expect that Lantronix will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, Director Hoshi Printer bought 15,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the director now directly owns 176,075 shares in the company, valued at approximately $510,617.50. The trade was a 9.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Saleel Awsare purchased 80,000 shares of Lantronix stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $2.66 per share, with a total value of $212,800.00. Following the completion of the transaction, the chief executive officer now owns 233,184 shares of the company’s stock, valued at $620,269.44. This represents a 52.22 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of large investors have recently modified their holdings of LTRX. Amundi purchased a new stake in Lantronix in the 4th quarter worth approximately $42,000. Bank of New York Mellon Corp raised its position in shares of Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock worth $171,000 after buying an additional 18,996 shares in the last quarter. Barclays PLC boosted its stake in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after buying an additional 43,770 shares during the period. Geode Capital Management LLC grew its position in Lantronix by 3.2% during the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock worth $1,394,000 after buying an additional 10,413 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lantronix in the 3rd quarter valued at about $60,000. 39.38% of the stock is currently owned by institutional investors.

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.