Lantronix (NASDAQ:LTRX) Price Target Lowered to $5.50 at Needham & Company LLC

Lantronix (NASDAQ:LTRX - Free Report) had its target price lowered by Needham & Company LLC from $7.00 to $5.50 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

Several other equities analysts have also recently issued reports on LTRX. StockNews.com upgraded Lantronix from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 12th. Canaccord Genuity Group assumed coverage on Lantronix in a research note on Wednesday, September 11th. They set a "buy" rating and a $7.50 price objective on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $7.00.

Lantronix Stock Down 7.8 %

NASDAQ LTRX traded down $0.22 on Monday, reaching $2.60. The company had a trading volume of 2,058,014 shares, compared to its average volume of 288,860. The firm has a market capitalization of $99.06 million, a PE ratio of -20.14 and a beta of 2.14. Lantronix has a 1 year low of $2.48 and a 1 year high of $6.95. The firm has a 50-day moving average of $3.93 and a 200-day moving average of $3.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 2.03.

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

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the sale, the insider now directly owns 5,373,036 shares of the company's stock, valued at $21,492,144. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 85,065 shares of company stock valued at $356,232 over the last three months. Company insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. ProShare Advisors LLC bought a new position in Lantronix during the second quarter valued at about $42,000. Mackenzie Financial Corp bought a new position in Lantronix during the second quarter valued at about $50,000. SG Americas Securities LLC bought a new position in Lantronix during the first quarter valued at about $55,000. American Century Companies Inc. boosted its stake in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company's stock valued at $93,000 after buying an additional 5,693 shares in the last quarter. Finally, Heron Bay Capital Management bought a new position in Lantronix during the first quarter valued at about $226,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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.