Lantronix, Inc. (NASDAQ:LTRX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Lantronix, Inc. (NASDAQ:LTRX) have received a consensus rating of “Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.00.

Several brokerages have recently issued reports on LTRX. Needham & Company LLC restated a “buy” rating and set a $5.50 price target on shares of Lantronix in a research note on Tuesday, January 21st. Lake Street Capital lowered their target price on Lantronix from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group dropped their price target on Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday, February 7th.

Lantronix Stock Down 6.5 %

Shares of NASDAQ:LTRX opened at $2.01 on Friday. Lantronix has a 1 year low of $1.92 and a 1 year high of $4.55. The company has a market capitalization of $77.97 million, a PE ratio of -15.46 and a beta of 2.00. The business has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $3.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. Analysts forecast that Lantronix will post -0.23 earnings per share for the current year.

Insider Activity

In other Lantronix news, Director Kevin S. Palatnik bought 20,000 shares of Lantronix stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $2.54 per share, for a total transaction of $50,800.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $50,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hoshi Printer bought 15,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $2.70 per share, for a total transaction of $40,500.00. Following the completion of the purchase, the director now directly owns 191,425 shares of the company’s stock, valued at $516,847.50. This represents a 8.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 50,000 shares of company stock worth $129,250. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently modified their holdings of LTRX. Amundi bought a new position in shares of Lantronix during the fourth quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Lantronix during the 3rd quarter valued at approximately $60,000. Balyasny Asset Management L.P. purchased a new stake in Lantronix in the 4th quarter worth approximately $79,000. Wolverine Trading LLC bought a new stake in shares of Lantronix in the 4th quarter worth approximately $95,000. Finally, Algert Global LLC grew its position in shares of Lantronix by 49.5% in the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after buying an additional 9,180 shares during the last quarter. Institutional investors own 39.38% of the company’s stock.

About Lantronix

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.