Lantronix (NASDAQ:LTRX – Get Free Report) had its price objective boosted by equities researchers at Needham & Company LLC from $4.50 to $5.50 in a report issued on Tuesday, Marketbeat.com reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 19.83% from the company’s current price.
Separately, Lake Street Capital upped their price target on shares of Lantronix from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Lantronix currently has a consensus rating of “Buy” and a consensus target price of $4.50.
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Lantronix Stock Up 0.4%
Shares of NASDAQ LTRX opened at $4.59 on Tuesday. Lantronix has a 12-month low of $1.91 and a 12-month high of $5.06. The company has a market capitalization of $180.25 million, a PE ratio of -15.30 and a beta of 1.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.54 and a quick ratio of 1.68. The firm’s 50-day moving average is $3.94 and its two-hundred day moving average is $2.97.
Insider Activity
In related news, major shareholder Bernhard Bruscha sold 12,993 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $4.64, for a total transaction of $60,287.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.
Hedge Funds Weigh In On Lantronix
Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Lantronix during the second quarter valued at approximately $32,000. Atria Wealth Solutions Inc. acquired a new position in Lantronix during the second quarter worth approximately $60,000. XTX Topco Ltd acquired a new position in Lantronix during the second quarter worth approximately $86,000. American Century Companies Inc. increased its position in Lantronix by 23.6% during the first quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock worth $135,000 after purchasing an additional 10,381 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Lantronix by 182.0% during the fourth quarter. Jane Street Group LLC now owns 59,565 shares of the technology company’s stock worth $245,000 after purchasing an additional 38,439 shares during the last quarter. Hedge funds and other institutional investors own 39.38% of the company’s stock.
Lantronix Company Profile
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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.
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