Lantronix (NASDAQ:LTRX) Stock Rating Lowered by Wall Street Zen

Lantronix (NASDAQ:LTRX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently commented on LTRX. JonesTrading started coverage on shares of Lantronix in a report on Wednesday, July 15th. They set a “buy” rating and a $12.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of Lantronix from $10.50 to $11.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC began coverage on shares of Lantronix in a research report on Friday, June 12th. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lantronix in a research note on Friday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Lantronix in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lantronix presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Lantronix Price Performance

LTRX stock opened at $5.97 on Friday. The company’s 50 day moving average price is $5.97 and its 200 day moving average price is $6.10. The firm has a market capitalization of $262.58 million, a price-to-earnings ratio of -35.12 and a beta of 1.70. Lantronix has a fifty-two week low of $2.86 and a fifty-two week high of $8.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 2.74.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ritholtz Wealth Management lifted its stake in Lantronix by 1.5% in the first quarter. Ritholtz Wealth Management now owns 129,873 shares of the technology company’s stock valued at $681,000 after buying an additional 1,971 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Lantronix by 14.8% during the first quarter. Thompson Davis & CO. Inc. now owns 18,950 shares of the technology company’s stock worth $99,000 after acquiring an additional 2,450 shares during the last quarter. R Squared Ltd grew its position in shares of Lantronix by 28.7% during the fourth quarter. R Squared Ltd now owns 18,107 shares of the technology company’s stock worth $106,000 after acquiring an additional 4,034 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Lantronix by 52.7% in the 3rd quarter. Squarepoint Ops LLC now owns 19,283 shares of the technology company’s stock valued at $88,000 after acquiring an additional 6,654 shares during the period. Finally, Engineers Gate Manager LP raised its position in Lantronix by 79.1% in the 4th quarter. Engineers Gate Manager LP now owns 20,964 shares of the technology company’s stock valued at $123,000 after purchasing an additional 9,256 shares during the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

About Lantronix

Lantronix, Inc is a provider of secure data access and management solutions designed to simplify the deployment, monitoring and control of devices and equipment across a wide range of industries. Headquartered in Irvine, California, the company develops hardware and software products that enable connectivity for smart devices, industrial machinery, IT infrastructure and other systems in the Internet of Things (IoT) ecosystem.

Founded in 1989, Lantronix was among the early innovators in serial-to-Ethernet device networking and has since expanded its portfolio to include secure console servers, device servers, gateways and embedded modules.