Canaccord Genuity Group Issues Pessimistic Forecast for Lantronix (NASDAQ:LTRX) Stock Price

Lantronix (NASDAQ:LTRX - Free Report) had its price objective cut by Canaccord Genuity Group from $7.50 to $5.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered Lantronix from a "strong-buy" rating to a "buy" rating in a research note on Monday. Needham & Company LLC decreased their target price on Lantronix from $7.00 to $5.50 and set a "buy" rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lantronix has an average rating of "Buy" and a consensus target price of $6.50.

Lantronix Stock Performance

Lantronix stock traded down $0.06 during mid-day trading on Tuesday, hitting $2.54. 958,367 shares of the company's stock traded hands, compared to its average volume of 291,942. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16. Lantronix has a one year low of $2.48 and a one year high of $6.95. The firm has a 50 day moving average price of $3.89 and a 200 day moving average price of $3.77. The company has a market cap of $96.76 million, a PE ratio of -18.14 and a beta of 2.14.

Lantronix (NASDAQ:LTRX - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The business had revenue of $49.08 million for the quarter, compared to analysts' expectations of $49.10 million. On average, equities analysts forecast that Lantronix will post -0.01 EPS for the current year.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 20,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.08, for a total transaction of $81,600.00. Following the completion of the sale, the insider now directly owns 5,198,971 shares in the company, valued at approximately $21,211,801.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 85,065 shares of company stock worth $356,232 in the last quarter. 1.60% of the stock is owned by company insiders.

Institutional Trading of Lantronix

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of Lantronix by 30.4% in the 2nd quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company's stock valued at $2,323,000 after acquiring an additional 152,400 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Lantronix by 65.0% in the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company's stock worth $3,036,000 after buying an additional 336,781 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lantronix by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company's stock worth $3,629,000 after buying an additional 159,671 shares during the period. Herald Investment Management Ltd grew its stake in Lantronix by 17.6% in the 2nd quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company's stock valued at $3,550,000 after buying an additional 150,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Lantronix by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company's stock worth $4,995,000 after buying an additional 131,476 shares in the last quarter. 39.38% of the stock is owned by institutional investors.

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.