Lantronix price target lowered to $5 from $7.50 at Canaccord

Canaccord lowered the firm’s price target on Lantronix (LTRX) to $5 from $7.50 and keeps a Buy rating on the shares. The firm said the September quarter was negatively impacted by a large federal government agency order which did not materialize as originally expected. Then, December quarter guidance was impacted by lower volume from Lantronix’s largest automotive customer in Turkey and slightly lower activity in its enterprise vertical market.