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

Lantronix (NASDAQ:LTRX - Free Report) had its target price trimmed by Canaccord Genuity Group from $5.00 to $4.50 in a research report report published on Friday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the technology company's stock.

A number of other brokerages also recently issued reports on LTRX. StockNews.com downgraded 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 target price on shares of Lantronix in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.00.

Lantronix Stock Performance

Shares of LTRX traded down $0.11 during mid-day trading on Friday, reaching $3.01. The company had a trading volume of 643,911 shares, compared to its average volume of 450,241. Lantronix has a 52-week low of $2.48 and a 52-week high of $4.55. The company has a quick ratio of 1.78, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $115.79 million, a P/E ratio of -23.15 and a beta of 1.94. The stock has a 50 day moving average of $3.74 and a two-hundred day moving average of $3.69.

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

Insider Activity at Lantronix

In related news, Director Hoshi Printer purchased 15,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was purchased at an average price of $2.90 per share, with a total value of $43,500.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saleel Awsare purchased 80,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost 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 approximately $620,269.44. The trade was a 52.22 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Lantronix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in 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. Truffle Hound Capital LLC acquired a new stake in Lantronix during the fourth quarter worth $4,120,000. Geode Capital Management LLC increased its stake in Lantronix by 3.2% during the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company's stock worth $1,394,000 after acquiring an additional 10,413 shares during the last quarter. Walleye Capital LLC increased 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 last quarter. Finally, Barclays PLC increased its stake in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company's stock worth $257,000 after acquiring an additional 43,770 shares during the last quarter. 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.