Ryan Koontz, an analyst from Needham, maintained the Buy rating on Lantronix (LTRX – Research Report). The associated price target remains the same with $5.50.
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Ryan Koontz has given his Buy rating due to a combination of factors surrounding Lantronix’s strategic positioning and future growth prospects. Despite a reported performance in line with expectations and a slightly lower forecast for the next quarter due to delays in deployments and inventory issues with a significant customer, Koontz sees potential in Lantronix’s recent strategic moves.
Lantronix is focusing on cutting operational expenses and has acquired assets from NetComm, which is expected to sustain moderate operating margins. Furthermore, the company is targeting its efforts on edge AI and computing applications, with several promising new design wins. These initiatives, along with maintaining a price target of $5.50, underpin Koontz’s optimistic outlook and Buy rating for Lantronix.
Koontz covers the Technology sector, focusing on stocks such as Ceragon Networks, Ciena, and Clearfield. According to TipRanks, Koontz has an average return of 3.0% and a 48.34% success rate on recommended stocks.
In another report released today, Craig-Hallum also maintained a Buy rating on the stock with a $5.00 price target.