Lantronix (NASDAQ:LTRX) Price Target Raised to $5.50

Lantronix (NASDAQ:LTRX) had its price target hoisted by Needham & Company LLC from $4.50 to $5.50 in a research report report published on Tuesday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Separately, Lake Street Capital lifted their price objective on Lantronix from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $4.50.

Lantronix Trading Up 16.1%

Shares of Lantronix stock opened at $5.33 on Tuesday. The company has a 50-day moving average of $3.98 and a two-hundred day moving average of $2.99. Lantronix has a 12-month low of $1.91 and a 12-month high of $5.35. The company has a current ratio of 2.54, a quick ratio of 1.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $209.31 million, a PE ratio of -17.77 and a beta of 1.39.

Insiders Place Their Bets

In other news, major shareholder Bernhard Bruscha sold 12,993 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $4.64, for a total value of $60,287.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Lantronix in the 2nd quarter valued at about $32,000. Atria Wealth Solutions Inc. purchased a new position in shares of Lantronix during the second quarter valued at approximately $60,000. XTX Topco Ltd acquired a new stake in Lantronix during the second quarter worth approximately $86,000. American Century Companies Inc. grew its stake in Lantronix by 23.6% in the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock worth $135,000 after acquiring an additional 10,381 shares during the period. Finally, Jane Street Group LLC raised its holdings in Lantronix by 19.7% in the 1st quarter. Jane Street Group LLC now owns 71,293 shares of the technology company’s stock valued at $178,000 after acquiring an additional 11,728 shares during the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

About Lantronix

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.