Canaccord Genuity Group Has Lowered Expectations for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX) had its price target decreased by investment analysts at Canaccord Genuity Group from $5.00 to $4.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 42.36% from the stock’s previous close.

A number of other analysts have also recently commented on the company. StockNews.com cut Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $5.50 price target on shares of Lantronix in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.40.

Lantronix Trading Down 24.7 %

Lantronix stock traded down $1.04 during trading hours on Friday, reaching $3.16. The company had a trading volume of 1,463,015 shares, compared to its average volume of 418,791. The firm has a market cap of $121.60 million, a price-to-earnings ratio of -22.55 and a beta of 1.94. Lantronix has a 12-month low of $2.48 and a 12-month high of $5.97. The company has a 50-day moving average price of $3.71 and a 200 day moving average price of $3.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78.

Lantronix (NASDAQ:LTRX) last released its earnings results on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. Equities analysts forecast that Lantronix will post -0.07 earnings per share for the current year.

Insider Transactions at Lantronix

In other news, Director Hoshi Printer bought 15,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were bought at an average price of $2.90 per share, with a total value of $43,500.00. Following the completion of the transaction, the director now directly owns 176,075 shares in the company, valued at $510,617.50. This trade represents a 9.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saleel Awsare bought 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the acquisition, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Hedge funds have recently made changes to their positions in the business. Amundi purchased a new position in Lantronix in the fourth quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lantronix in the 3rd quarter worth $60,000. Bank of New York Mellon Corp raised its stake in shares of Lantronix by 84.4% in the 4th quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after purchasing an additional 18,996 shares in the last quarter. Barclays PLC raised its stake in shares of Lantronix by 235.9% in the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after purchasing an additional 43,770 shares in the last quarter. Finally, Walleye Capital LLC raised its stake in 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 acquiring an additional 27,325 shares during the period. Institutional investors and hedge funds 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.