Fintel reports that on September 8, 2023, Canaccord Genuity maintained coverage of Lantronix (NASDAQ:LTRX) with a Buy recommendation.
Analyst Price Forecast Suggests 78.95% Upside
As of August 31, 2023, the average one-year price target for Lantronix is 9.18. The forecasts range from a low of 8.08 to a high of $11.02. The average price target represents an increase of 78.95% from its latest reported closing price of 5.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lantronix is 197MM, an increase of 50.04%. The projected annual non-GAAP EPS is 0.67.
What is the Fund Sentiment?
There are 101 funds or institutions reporting positions in Lantronix. This is a decrease of 15 owner(s) or 12.93% in the last quarter. Average portfolio weight of all funds dedicated to LTRX is 0.27%, an increase of 21.42%. Total shares owned by institutions decreased in the last three months by 3.62% to 14,237K shares. 
The put/call ratio of LTRX is 0.14, indicating a bullish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 1,226K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 1,265K shares, representing a decrease of 3.24%. The firm decreased its portfolio allocation in LTRX by 8.63% over the last quarter.
AMH Equity holds 1,000K shares representing 2.73% ownership of the company.
RK Capital Management holds 890K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 1,004K shares, representing a decrease of 12.81%. The firm decreased its portfolio allocation in LTRX by 15.97% over the last quarter.
Herald Investment Management holds 850K shares representing 2.32% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 762K shares representing 2.08% ownership of the company. In it's prior filing, the firm reported owning 613K shares, representing an increase of 19.50%. The firm increased its portfolio allocation in LTRX by 11.18% over the last quarter.
Lantronix Background Information
(This description is provided by the company.)
Lantronix Inc. is a global provider of software as a service (SaaS), engineering services and hardware for Edge Computing, the Internet of Things (IoT) and Remote Environment Management (REM). Lantronix enables its customers to provide reliable and secure solutions while accelerating their time to market. Lantronix's products and services dramatically simplify operations through the creation, development, deployment and management of customer projects at scale while providing quality, reliability and security. Lantronix's portfolio of services and products address each layer of the IoT Stack, including Collect, Connect, Compute, Control and Comprehend, enabling its customers to deploy successful IoT and REM solutions. Lantronix's services and products deliver a holistic approach, addressing its customers' needs by integrating a SaaS management platform with custom application development layered on top of external and embedded hardware, enabling intelligent edge computing, secure communications (wired, Wi-Fi and cellular), location and positional tracking and environmental sensing and reporting. With three decades of proven experience in creating robust industry and customer-specific solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of IoT and REM. Lantronix's solutions are deployed inside millions of machines at data centers, offices and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental, infrastructure and government.
Additional reading:
- Lantronix Reports Results for Fourth Quarter of Fiscal 2023
- Lantronix Appoints Philip Brace to Its Board of Directors
- July 5, 2023
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