Lantronix, Inc. (NASDAQ:LTRX) Receives $7.30 Average PT from Brokerages

Shares of Lantronix, Inc. (NASDAQ:LTRX) have received a consensus recommendation of “Buy” from the five analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.30.

Several equities research analysts have recently issued reports on LTRX shares. Roth Mkm reissued a “buy” rating and set a $9.00 target price on shares of Lantronix in a research note on Monday, June 17th. Canaccord Genuity Group started coverage on Lantronix in a report on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Lantronix in a research note on Friday, September 6th. Finally, StockNews.com cut shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 10th.

Lantronix Trading Down 2.9 %

Lantronix stock opened at $3.83 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.16. The firm has a market cap of $143.93 million, a PE ratio of -21.28 and a beta of 2.12. The stock’s 50 day simple moving average is $3.77 and its two-hundred day simple moving average is $3.66. Lantronix has a 12 month low of $3.08 and a 12 month high of $6.95.

Insider Buying and Selling

In other news, major shareholder Bernhard Bruscha sold 8,435 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total value of $33,740.00. Following the completion of the sale, the insider now directly owns 5,373,036 shares in the company, valued at $21,492,144. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 64,014 shares of company stock worth $267,136. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp purchased a new stake in Lantronix in the 2nd quarter valued at $50,000. Marshall Wace LLP boosted its position in shares of Lantronix by 260.2% during the 2nd quarter. Marshall Wace LLP now owns 160,270 shares of the technology company’s stock valued at $569,000 after acquiring an additional 115,772 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Lantronix in the second quarter valued at about $42,000. XTX Topco Ltd increased its position in Lantronix by 217.7% during the second quarter. XTX Topco Ltd now owns 149,855 shares of the technology company’s stock worth $532,000 after purchasing an additional 102,688 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in 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. Institutional investors and hedge funds 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.