Canaccord Genuity Group Cuts Lantronix (NASDAQ:LTRX) Price Target to $5.00

Lantronix (NASDAQ:LTRX) had its target price reduced by Canaccord Genuity Group from $7.50 to $5.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on LTRX. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC cut their target price on Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday, November 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix has an average rating of “Buy” and a consensus price target of $6.50.

Lantronix Trading Up 0.4 %

Shares of Lantronix stock opened at $2.83 on Tuesday. The firm has a market cap of $108.87 million, a PE ratio of -20.21 and a beta of 2.14. The company has a quick ratio of 2.03, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. Lantronix has a fifty-two week low of $2.48 and a fifty-two week high of $6.95. The business’s fifty day moving average is $3.85 and its two-hundred day moving average is $3.75.

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

Insider Transactions at Lantronix

In related news, CEO Saleel Awsare purchased 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $212,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bernhard Bruscha sold 8,435 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the transaction, the insider now directly owns 5,373,036 shares of the company’s stock, valued at approximately $21,492,144. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,065 shares of company stock valued at $356,232 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC bought a new position in Lantronix during the second quarter worth $42,000. Mackenzie Financial Corp bought a new position in shares of Lantronix in the 2nd quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lantronix in the 3rd quarter valued at about $60,000. SG Americas Securities LLC bought a new stake in shares of Lantronix during the 1st quarter valued at about $55,000. Finally, American Century Companies Inc. raised its stake in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after acquiring 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.