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

Shares of Lantronix, Inc. (NASDAQ:LTRX) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of brokerages recently issued reports on LTRX. Lake Street Capital lowered their price objective on Lantronix from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th. Craig Hallum cut their price objective on Lantronix from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Roth Mkm reaffirmed a “buy” rating and issued a $9.00 target price on shares of Lantronix in a research note on Monday, June 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Lantronix in a research note on Tuesday, April 30th.

Insider Buying and Selling at Lantronix

In other news, Director Jason Cohenour acquired 21,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $3.63 per share, with a total value of $76,230.00. Following the completion of the purchase, the director now owns 33,909 shares in the company, valued at approximately $123,089.67. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Saleel Awsare bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $3.66 per share, with a total value of $36,600.00. Following the purchase, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $109,800. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jason Cohenour bought 21,000 shares of Lantronix stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $3.63 per share, for a total transaction of $76,230.00. Following the acquisition, the director now directly owns 33,909 shares in the company, valued at approximately $123,089.67. The disclosure for this purchase can be found here. 17.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Lantronix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. purchased a new position in Lantronix during the 3rd quarter valued at about $35,000. SG Americas Securities LLC purchased a new position in shares of Lantronix during the first quarter valued at approximately $55,000. Quadrature Capital Ltd bought a new stake in shares of Lantronix in the 3rd quarter worth approximately $109,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Lantronix in the 4th quarter worth approximately $148,000. Finally, Jump Financial LLC increased its position in Lantronix by 115.4% during the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after buying an additional 17,138 shares in the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.

Lantronix Price Performance

NASDAQ LTRX opened at $3.61 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. The company has a market cap of $135.66 million, a PE ratio of -20.06 and a beta of 2.14. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The firm’s 50-day simple moving average is $3.70 and its two-hundred day simple moving average is $4.35.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings results on Monday, April 29th. The technology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.47%. The company had revenue of $41.18 million for the quarter, compared to analysts’ expectations of $40.80 million. Research analysts predict that Lantronix will post -0.06 earnings per share for the current year.

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.