Craig-Hallum analyst Christian Schwab lowered the firm’s price target on Lantronix to $7 from $9 and keeps a Buy rating on the shares. The company lowered its outlook for FY24 revenue by $20M, from $180M to $160M, with an impact from a channel inventory correction and a large design win pushing out to FY25, the analyst tells investors in a research note. With expectations reset, absent any large scale, more unique deals, the company is positioned to be a 8%-12% topline growth business, the firm adds.
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