Lantronix (NASDAQ:LTRX) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen cut shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group decreased their price target on Lantronix from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lantronix in a research report on Thursday, October 15th. Lake Street Capital upped their price objective on Lantronix from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Lantronix in a research note on Thursday, August 27th. Finally, Zacks Research downgraded Lantronix from a “hold” rating to a “strong sell” rating in a report on Monday, November 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.70.

Lantronix Stock Down 3.3%

Shares of NASDAQ LTRX traded down $0.15 during mid-day trading on Friday, hitting $4.33. The company had a trading volume of 550,319 shares, compared to its average volume of 678,569. The company has a market capitalization of $203.25 million, a PE ratio of -54.12 and a beta of 1.36. The firm has a 50-day simple moving average of $5.95 and a two-hundred day simple moving average of $6.03. The company has a current ratio of 2.99, a quick ratio of 2.86 and a debt-to-equity ratio of 0.04. Lantronix has a one year low of $4.31 and a one year high of $8.75.

Lantronix (NASDAQ:LTRX) last released its earnings results on Monday, November 9th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Lantronix had a negative return on equity of 3.35% and a negative net margin of 2.63%. The business had revenue of $32.37 million for the quarter, compared to the consensus estimate of $31.98 million. On average, equities analysts expect that Lantronix will post 0.07 EPS for the current year.

Insider Buying and Selling at Lantronix

In other Lantronix news, CEO Saleel Awsare purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were acquired at an average price of $5.18 per share, for a total transaction of $77,700.00. Following the purchase, the chief executive officer owned 453,381 shares in the company, valued at approximately $2,348,513.58. The trade was a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Institutional investors and hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. acquired a new position in Lantronix in the 2nd quarter valued at $7,350,000. First Eagle Investment Management LLC acquired a new stake in shares of Lantronix during the third quarter worth $6,889,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lantronix by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company’s stock worth $4,952,000 after buying an additional 275,842 shares in the last quarter. Royce & Associates LP boosted its position in shares of Lantronix by 19.1% in the third quarter. Royce & Associates LP now owns 1,448,513 shares of the technology company’s stock valued at $10,444,000 after acquiring an additional 232,427 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Lantronix by 215.5% in the second quarter. Squarepoint Ops LLC now owns 254,886 shares of the technology company’s stock valued at $1,499,000 after acquiring an additional 174,086 shares during the period. 39.38% of the stock is currently owned by institutional investors and hedge funds.

About Lantronix

Lantronix provides secure connectivity, computing and remote-management solutions for the Internet of Things (IoT) and edge computing. Its products and services help businesses connect, monitor and manage devices and equipment across distributed networks. The company’s offerings include embedded computing modules and systems, IoT gateways, device servers, network switches and console-management products. Lantronix also provides software and engineering services to support the design and deployment of connected applications.