Lantronix (NASDAQ:LTRX) Stock Rating Lowered by StockNews.com

Lantronix (NASDAQ:LTRX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group started coverage on shares of Lantronix in a research report on Wednesday, September 11th. They set a “buy” rating and a $7.50 target price on the stock. Needham & Company LLC dropped their price objective on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Monday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Down 2.3 %

LTRX stock opened at $2.54 on Monday. The stock has a market capitalization of $96.76 million, a price-to-earnings ratio of -18.14 and a beta of 2.14. The company has a 50-day moving average of $3.89 and a two-hundred day moving average of $3.77. Lantronix has a 52-week low of $2.48 and a 52-week high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 2.03.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $49.08 million during the quarter, compared to the consensus estimate of $49.10 million. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. As a group, equities research analysts anticipate that Lantronix will post -0.01 EPS for the current year.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the transaction, the insider now directly owns 5,293,503 shares of the company’s stock, valued at approximately $22,867,932.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 85,065 shares of company stock valued at $356,232 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp bought a new stake in Lantronix in the second quarter valued at $50,000. Marshall Wace LLP boosted its stake in shares of Lantronix by 260.2% in the 2nd quarter. Marshall Wace LLP now owns 160,270 shares of the technology company’s stock valued at $569,000 after purchasing an additional 115,772 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Lantronix in the 2nd quarter worth about $42,000. XTX Topco Ltd increased its position in shares of Lantronix by 217.7% during the 2nd 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 in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after purchasing an additional 336,781 shares during the last quarter. Institutional investors own 39.38% of the company’s stock.

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.