Lake Street Capital Lowers Lantronix (NASDAQ:LTRX) Price Target to $4.00

Lantronix (NASDAQ:LTRX) had its price objective reduced by investment analysts at Lake Street Capital from $5.00 to $4.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price would suggest a potential upside of 90.48% from the company’s current price.

LTRX has been the topic of several other research reports. Canaccord Genuity Group dropped their price target on shares of Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $5.50 price target on shares of Lantronix in a report on Tuesday, January 21st. Five investment 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 an average price target of $5.75.

Lantronix Trading Down 7.5 %

NASDAQ LTRX opened at $2.10 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.15. Lantronix has a 52 week low of $1.91 and a 52 week high of $4.55. The business has a 50 day moving average price of $2.34 and a 200-day moving average price of $3.06. The company has a market cap of $81.46 million, a price-to-earnings ratio of -16.15 and a beta of 1.49.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings results on Monday, May 5th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.62%. As a group, equities analysts expect that Lantronix will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lantronix news, Director Kevin S. Palatnik bought 20,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $2.54 per share, with a total value of $50,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $50,800. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hoshi Printer purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $2.70 per share, for a total transaction of $40,500.00. Following the completion of the acquisition, the director now directly owns 191,425 shares in the company, valued at $516,847.50. The trade was a 8.50 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 50,000 shares of company stock valued at $129,250 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Lantronix

A number of large investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Lantronix by 3.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock valued at $1,171,000 after acquiring an additional 8,992 shares during the period. Algert Global LLC grew its holdings in Lantronix by 49.5% during the fourth quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock valued at $114,000 after purchasing an additional 9,180 shares during the period. Geode Capital Management LLC increased its position in Lantronix by 3.2% in 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 during the last quarter. Amundi bought a new stake in shares of Lantronix in the fourth quarter valued at $42,000. Finally, American Century Companies Inc. lifted its position in shares of Lantronix by 43.9% during the 4th quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock valued at $181,000 after buying an additional 13,402 shares during the last quarter. Hedge funds and other institutional investors 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.