Lantronix (NASDAQ:LTRX) Given New $5.00 Price Target at Lake Street Capital

Lantronix (NASDAQ:LTRX) had its price objective decreased by Lake Street Capital from $6.00 to $5.00 in a research report sent to investors on Friday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

LTRX has been the topic of several other research reports. Canaccord Genuity Group decreased their target price on Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.50 price target on shares of Lantronix in a research note on Tuesday, January 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix currently has a consensus rating of “Buy” and an average price target of $6.00.

Lantronix Stock Performance

Shares of NASDAQ LTRX opened at $3.18 on Friday. Lantronix has a 1 year low of $2.48 and a 1 year high of $5.97. The company has a 50 day simple moving average of $3.74 and a 200-day simple moving average of $3.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.60%. On average, analysts anticipate that Lantronix will post -0.07 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lantronix

Several large investors have recently bought and sold shares of the stock. Barclays PLC boosted its position 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Lantronix by 3.2% in the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 10,413 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after acquiring an additional 159,671 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Lantronix by 61.9% in the 3rd quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock valued at $294,000 after acquiring an additional 27,325 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lantronix in the 3rd quarter valued at $60,000. Institutional investors and hedge funds 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.