Lantronix (NASDAQ:LTRX) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Lantronix (NASDAQ:LTRX) from a strong-buy rating to a buy rating in a research note released on Friday.

LTRX has been the subject of several other reports. Needham & Company LLC reaffirmed a buy rating and set a $7.00 price target on shares of Lantronix in a report on Friday, September 6th. Canaccord Genuity Group initiated coverage on shares of Lantronix in a research note on Wednesday, September 11th. They issued a buy rating and a $7.50 target price for the company. Finally, Roth Mkm reiterated a buy rating and set a $9.00 price target on shares of Lantronix in a research note on Monday, June 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $7.30.

Lantronix Price Performance

LTRX stock opened at $3.89 on Friday. The stock has a market cap of $146.19 million, a price-to-earnings ratio of -21.61 and a beta of 2.13. Lantronix has a fifty-two week low of $3.08 and a fifty-two week high of $6.95. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $3.79 and a 200 day moving average price of $3.68.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. Equities research analysts anticipate that Lantronix will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the sale, the insider now owns 5,373,036 shares of the company’s stock, valued at approximately $21,492,144. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 89,014 shares of company stock valued at $371,386 in the last quarter. 17.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Lantronix

Several large investors have recently modified their holdings of LTRX. American Century Companies Inc. boosted its stake in shares of Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after acquiring an additional 5,693 shares during the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Lantronix by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock worth $1,439,000 after buying an additional 6,171 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Lantronix in the second quarter valued at approximately $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the second quarter valued at approximately $50,000. Finally, SG Americas Securities LLC purchased a new position in shares of Lantronix during the first quarter valued at approximately $55,000. 39.38% of the stock is currently owned by institutional investors and hedge funds.

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.