Lantronix price target lowered to $4.50 from $5 at Canaccord

Canaccord lowered the firm’s price target on Lantronix (LTRX) to $4.50 from $5 and keeps a Buy rating on the shares. The firm said the December quarter was more or less in line with our expectations and guidance. Revenue was down sequentially from the prior quarter, primarily due to lower volume from the company’s largest automotive customer (Togg) and slightly lower activity in the enterprise vertical market.