Lantronix (NASDAQ:LTRX) Price Target Raised to $11.00

Lantronix (NASDAQ:LTRX) had its target price upped by Canaccord Genuity Group from $10.50 to $11.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 106.77% from the stock’s previous close.

LTRX has been the subject of several other reports. Needham & Company LLC began coverage on Lantronix in a research report on Friday, June 12th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen lowered Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. UBS Group reiterated a “buy” rating on shares of Lantronix in a report on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lantronix in a research note on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lantronix presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Lantronix Stock Performance

NASDAQ:LTRX opened at $5.32 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 2.74. Lantronix has a fifty-two week low of $2.86 and a fifty-two week high of $8.75. The company has a 50 day simple moving average of $6.47 and a two-hundred day simple moving average of $6.19. The company has a market capitalization of $233.97 million, a PE ratio of -31.29 and a beta of 1.69.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Lantronix had a negative return on equity of 6.79% and a negative net margin of 5.52%.The firm had revenue of $30.18 million during the quarter, compared to analyst estimates of $30.49 million. Lantronix has set its Q4 2026 guidance at 0.030-0.050 EPS. Research analysts anticipate that Lantronix will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. bought a new stake in Lantronix in the 4th quarter worth about $68,000. Balyasny Asset Management L.P. purchased a new position in shares of Lantronix during the fourth quarter valued at approximately $86,000. Jefferies Financial Group Inc. bought a new position in Lantronix during the fourth quarter valued at approximately $95,000. Thompson Davis & CO. Inc. bought a new position in Lantronix during the fourth quarter valued at approximately $97,000. Finally, R Squared Ltd boosted its holdings in Lantronix by 28.7% in the fourth quarter. R Squared Ltd now owns 18,107 shares of the technology company’s stock worth $106,000 after purchasing an additional 4,034 shares during the last quarter. 39.38% of the stock is owned by institutional investors.

About Lantronix

Lantronix, Inc is a provider of secure data access and management solutions designed to simplify the deployment, monitoring and control of devices and equipment across a wide range of industries. Headquartered in Irvine, California, the company develops hardware and software products that enable connectivity for smart devices, industrial machinery, IT infrastructure and other systems in the Internet of Things (IoT) ecosystem.

Founded in 1989, Lantronix was among the early innovators in serial-to-Ethernet device networking and has since expanded its portfolio to include secure console servers, device servers, gateways and embedded modules.