Lantronix’s (LTRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Lantronix (NASDAQ:LTRX) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $5.50 target price on the technology company’s stock.

Several other analysts have also recently weighed in on the company. Canaccord Genuity Group lowered their price target on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com cut shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.50.

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $3.99 on Tuesday. The company has a 50 day moving average of $3.50 and a 200 day moving average of $3.69. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock has a market cap of $153.50 million, a P/E ratio of -28.50 and a beta of 1.94. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.66.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.16). Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The firm had revenue of $34.42 million for the quarter, compared to analysts’ expectations of $37.10 million. During the same quarter last year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Lantronix will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Lantronix

In related news, Director Hoshi Printer bought 15,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $2.90 per share, with a total value of $43,500.00. Following the purchase, the director now owns 176,075 shares in the company, valued at approximately $510,617.50. The trade was a 9.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saleel Awsare purchased 80,000 shares of Lantronix stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the transaction, the chief executive officer now owns 233,184 shares in the company, valued at $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after buying an additional 5,693 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 159,671 shares during the last quarter. Renaissance Technologies LLC increased 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 valued at $2,323,000 after purchasing an additional 152,400 shares during the period. XTX Topco Ltd raised its position in Lantronix by 217.7% during the 2nd quarter. XTX Topco Ltd now owns 149,855 shares of the technology company’s stock valued at $532,000 after purchasing an additional 102,688 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Lantronix in the 2nd quarter worth approximately $42,000. Hedge funds and other 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.