Lantronix (NASDAQ:LTRX) Price Target Lowered to $7.00 at Lake Street Capital

Lantronix (NASDAQ:LTRX) had its price target lowered by investment analysts at Lake Street Capital from $8.00 to $7.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective would indicate a potential upside of 81.82% from the stock’s previous close.

LTRX has been the subject of several other reports. Roth Mkm reaffirmed a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research report 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 price target on shares of Lantronix in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lantronix presently has a consensus rating of “Buy” and a consensus price target of $9.00.

Lantronix Trading Up 11.3 %

Shares of Lantronix stock traded up $0.39 during trading hours on Tuesday, hitting $3.85. The company’s stock had a trading volume of 500,588 shares, compared to its average volume of 304,239. Lantronix has a 12 month low of $3.08 and a 12 month high of $6.95. The stock has a 50 day moving average of $3.57 and a 200 day moving average of $4.77. The company has a market capitalization of $144.30 million, a PE ratio of -15.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.19.

Lantronix (NASDAQ:LTRX) last announced 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). Lantronix had a negative return on equity of 11.89% and a negative net margin of 6.67%. The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $37.20 million. Analysts predict that Lantronix will post -0.04 earnings per share for the current year.

Insider Activity

In other 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 value of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 value of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip G. Brace acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $3.95 per share, for a total transaction of $59,250.00. Following the acquisition, the director now owns 27,000 shares in the company, valued at $106,650. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LTRX. AMH Equity Ltd lifted its holdings in Lantronix by 16.0% during the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock worth $7,742,000 after buying an additional 182,552 shares during the period. Wasatch Advisors LP lifted its holdings in Lantronix by 11.4% during the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after buying an additional 165,711 shares during the period. Barclays PLC acquired a new position in Lantronix during the 3rd quarter worth about $176,000. Hillsdale Investment Management Inc. acquired a new position in Lantronix during the 4th quarter worth about $148,000. Finally, Quadrature Capital Ltd acquired a new position in Lantronix during the 3rd quarter worth about $109,000. 39.38% of the stock is 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.