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

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

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

Lantronix Trading Down 1.1 %

Shares of NASDAQ:LTRX opened at $3.64 on Tuesday. The company has a market cap of $136.42 million, a P/E ratio of -20.22 and a beta of 2.05. The stock’s 50-day moving average is $3.54 and its 200-day moving average is $4.74. Lantronix has a 52-week low of $3.08 and a 52-week high of $6.95. 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 (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $37.04 million during the quarter, compared to analyst estimates of $37.20 million. Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.50%. Equities research analysts predict that Lantronix will post -0.04 earnings per share for the current year.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 9,409 shares of Lantronix stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the completion of the transaction, the insider now directly owns 5,406,471 shares of the company’s stock, valued at $32,601,020.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lantronix news, major shareholder Bernhard Bruscha sold 9,409 shares of the company’s stock in a transaction dated 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 directly owns 5,406,471 shares of the company’s stock, valued at $32,601,020.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Saleel Awsare bought 20,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $3.91 per share, with a total value of $78,200.00. Following the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $78,200. The disclosure for this purchase can be found here. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Lantronix

Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. bought a new stake in shares of Lantronix during the third quarter worth $35,000. Algert Global LLC bought a new stake in shares of Lantronix during the third quarter worth $50,000. Jump Financial LLC bought a new stake in shares of Lantronix during the third quarter worth $66,000. Quadrature Capital Ltd bought a new stake in shares of Lantronix during the third quarter worth $109,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Lantronix during the fourth quarter worth $148,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

Lantronix Company Profile

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.