Lantronix (NASDAQ:LTRX) Price Target Cut to $6.00

Lantronix (NASDAQ:LTRX) had its target price dropped by analysts at Craig Hallum from $7.00 to $6.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 62.60% from the company’s previous close.

LTRX has been the subject of several other research reports. Roth Mkm reiterated a “buy” rating and issued a $9.00 price target on shares of Lantronix in a report on Tuesday. Lake Street Capital dropped 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. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Lantronix in a report on Tuesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $8.50.

Lantronix Trading Down 1.9 %

NASDAQ:LTRX opened at $3.69 on Tuesday. The firm has a market capitalization of $138.30 million, a price-to-earnings ratio of -20.50 and a beta of 2.12. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The business’s 50-day moving average price is $3.56 and its two-hundred day moving average price is $4.75. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $37.04 million for 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%. On average, equities analysts expect that Lantronix will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Bernhard Bruscha sold 9,409 shares of the business’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 completion of the sale, 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 is accessible through the SEC website. In other Lantronix news, Director Philip G. Brace bought 15,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $59,250.00. Following the transaction, the director now directly owns 27,000 shares in the company, valued at approximately $106,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the 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 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. Company insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC bought a new stake in shares of Lantronix during the 3rd quarter worth $176,000. Citigroup Inc. acquired a new position in Lantronix during the third quarter worth about $35,000. Jump Financial LLC bought a new position in shares of Lantronix in the third quarter worth about $66,000. Quadrature Capital Ltd acquired a new stake in shares of Lantronix in the 3rd quarter valued at approximately $109,000. Finally, Algert Global LLC acquired a new position in Lantronix during the 3rd quarter worth approximately $50,000. 39.38% of the stock is currently 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.