Craig Hallum Cuts Lantronix (NASDAQ:LTRX) Price Target to $6.00

Lantronix (NASDAQ:LTRX) had its price objective cut by Craig Hallum from $7.00 to $6.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also recently commented on LTRX. Lake Street Capital reduced their target price on Lantronix from $8.00 to $7.00 and set a buy rating on the stock in a report on Tuesday. Roth Mkm reaffirmed a buy rating and issued a $9.00 price objective on shares of Lantronix in a research note on Tuesday. Needham & Company LLC reissued a buy rating and set a $7.00 target price on shares of Lantronix in a research note on Tuesday. Finally, StockNews.com raised shares of Lantronix from a buy rating to a strong-buy rating in a research report on Tuesday, February 13th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lantronix currently has a consensus rating of Buy and an average target price of $8.50.

Lantronix Trading Down 1.1 %

Lantronix stock traded down $0.04 during trading hours on Tuesday, hitting $3.64. The stock had a trading volume of 261,956 shares, compared to its average volume of 308,422. The business’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $4.74. Lantronix has a one year low of $3.08 and a one year high of $6.95. The stock has a market cap of $136.42 million, a price-to-earnings ratio of -20.22 and a beta of 2.05. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.50%. The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $37.20 million. On average, equities analysts predict that Lantronix will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at Lantronix

In related news, CEO Saleel Awsare acquired 20,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $3.91 per share, with a total value of $78,200.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $78,200. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Saleel Awsare acquired 20,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $3.91 per share, with a total value of $78,200.00. Following the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $78,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip G. Brace bought 15,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $3.95 per share, with a total value of $59,250.00. Following the acquisition, the director now owns 27,000 shares of the company’s stock, valued at $106,650. The disclosure for this purchase can be found here. Company insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

Hedge funds have recently added to or reduced their stakes in the stock. AMH Equity Ltd grew its position in shares of Lantronix by 16.0% during the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock valued at $7,742,000 after acquiring an additional 182,552 shares during the period. Wasatch Advisors LP increased its position in Lantronix by 11.4% in the fourth 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 last quarter. Barclays PLC purchased a new stake in Lantronix in the third quarter worth $176,000. Hillsdale Investment Management Inc. bought a new stake in shares of Lantronix in the fourth quarter valued at $148,000. Finally, Quadrature Capital Ltd bought a new position in shares of Lantronix during the 3rd quarter worth $109,000. Institutional investors own 39.38% of the company’s stock.

Lantronix Company Profile

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.