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

Lantronix, Inc. (NASDAQ:LTRX) has been assigned an average recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $6.50.

LTRX has been the topic of several research analyst reports. StockNews.com cut shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC decreased 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, November 11th. Finally, Canaccord Genuity Group cut their price objective on Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

Lantronix Price Performance

Lantronix stock opened at $3.00 on Friday. The business has a 50 day simple moving average of $3.60 and a 200 day simple moving average of $3.70. Lantronix has a one year low of $2.48 and a one year high of $6.95. The company has a market capitalization of $115.43 million, a PE ratio of -21.43 and a beta of 2.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78.

Lantronix (NASDAQ:LTRX) last issued its earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The company had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. On average, sell-side analysts forecast that Lantronix will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the sale, the insider now owns 5,293,503 shares in the company, valued at $22,867,932.96. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saleel Awsare purchased 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the purchase, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 85,065 shares of company stock worth $356,232 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Lantronix by 30.4% during the 2nd quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock worth $2,323,000 after acquiring an additional 152,400 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Lantronix by 65.0% during the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after purchasing an additional 336,781 shares during the period. Dimensional Fund Advisors LP increased its holdings in Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after purchasing an additional 159,671 shares during the last quarter. Herald Investment Management Ltd lifted its stake in Lantronix by 17.6% in the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock valued at $3,550,000 after buying an additional 150,000 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Lantronix by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after buying an additional 131,476 shares during the last quarter. 39.38% of the stock is owned by institutional investors.

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.