Lantronix (NASDAQ:LTRX) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Lantronix (NASDAQ:LTRX) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

LTRX has been the topic of a number of other research reports. Needham & Company LLC lowered their price target on Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday. Canaccord Genuity Group started coverage on Lantronix in a report on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $6.50.

Lantronix Stock Performance

Shares of NASDAQ LTRX opened at $2.82 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. The business has a 50-day moving average of $3.88 and a 200-day moving average of $3.76. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.95.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. As a group, sell-side analysts expect that Lantronix will post -0.01 EPS for the current fiscal year.

Insider Activity

In other Lantronix news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total value of $136,641.60. Following the sale, the insider now owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saleel Awsare acquired 80,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $212,800.00. Following the completion of the purchase, the chief executive officer now owns 233,184 shares of the company’s stock, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 85,065 shares of company stock valued at $356,232. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Lantronix in the 1st quarter worth approximately $55,000. Vanguard Group Inc. increased its position in Lantronix by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after purchasing an additional 131,476 shares during the period. Acadian Asset Management LLC purchased a new position in Lantronix during the 1st quarter valued at $369,000. Heron Bay Capital Management bought a new position in Lantronix in the 1st quarter worth $226,000. Finally, AWM Investment Company Inc. lifted its position in shares of Lantronix by 29.8% in the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after purchasing an additional 227,374 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Lantronix Company Profile

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.