Canaccord Genuity Group Cuts Lantronix (NASDAQ:LTRX) Price Target to $5.00

Lantronix (NASDAQ:LTRX) had its target price reduced by Canaccord Genuity Group from $7.50 to $5.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday. Needham & Company LLC lowered their price target on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix currently has an average rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Down 1.4 %

NASDAQ LTRX traded down $0.04 during trading hours on Tuesday, hitting $2.78. 248,777 shares of the company were exchanged, compared to its average volume of 298,167. The stock has a 50-day moving average price of $3.88 and a 200 day moving average price of $3.76. The company has a current ratio of 2.61, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. Lantronix has a 52 week low of $2.48 and a 52 week high of $6.95.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $49.08 million during the quarter, compared to analyst estimates of $49.10 million. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. Research analysts predict that Lantronix will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 31,630 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the sale, the insider now owns 5,293,503 shares in the company, valued at $22,867,932.96. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saleel Awsare bought 80,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, with a total value of $212,800.00. Following the acquisition, the chief executive officer now owns 233,184 shares of the company’s stock, valued at $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 85,065 shares of company stock worth $356,232 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lantronix during the third quarter worth $60,000. Walleye Capital LLC increased its position in shares of Lantronix by 61.9% during the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock worth $294,000 after purchasing an additional 27,325 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Lantronix during the second quarter worth $50,000. Marshall Wace LLP increased its position in shares of Lantronix by 260.2% during the second quarter. Marshall Wace LLP now owns 160,270 shares of the technology company’s stock worth $569,000 after purchasing an additional 115,772 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Lantronix during the second quarter worth $42,000. 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.