Lantronix (NASDAQ:LTRX) had its price objective decreased by research analysts at Needham & Company LLC from $4.50 to $4.25 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 20.23% from the stock’s current price.

Separately, ValuEngine upgraded Lantronix from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

NASDAQ LTRX traded down $0.25 during trading on Wednesday, hitting $3.54. 36,493 shares of the company’s stock traded hands, compared to its average volume of 54,682. The stock has a fifty day moving average of $3.47 and a two-hundred day moving average of $3.32. Lantronix has a 12-month low of $2.34 and a 12-month high of $5.94. The firm has a market cap of $82.43 million, a P/E ratio of 28.23 and a beta of 0.79.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). Lantronix had a return on equity of 8.19% and a net margin of 3.70%. The company had revenue of $10.15 million during the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of LTRX. Wedbush Securities Inc. bought a new stake in Lantronix during the 2nd quarter valued at $33,000. Alambic Investment Management L.P. boosted its position in Lantronix by 37.2% during the 1st quarter. Alambic Investment Management L.P. now owns 18,163 shares of the technology company’s stock valued at $55,000 after buying an additional 4,923 shares during the period. LPL Financial LLC bought a new stake in Lantronix in the 2nd quarter worth $266,000. BlackRock Inc. grew its holdings in Lantronix by 6.3% in the 2nd quarter. BlackRock Inc. now owns 139,656 shares of the technology company’s stock worth $465,000 after acquiring an additional 8,238 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Lantronix by 22.9% in the 1st quarter. Acadian Asset Management LLC now owns 240,860 shares of the technology company’s stock worth $727,000 after acquiring an additional 44,894 shares during the last quarter. 19.77% of the stock is currently owned by institutional investors.

About Lantronix

Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.

Further Reading: Market Perform

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