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 research reports. Needham & Company LLC reissued a buy rating and issued a $7.00 price objective on shares of Lantronix in a research note on Tuesday, April 30th. Craig Hallum dropped their price objective on shares of Lantronix from $7.00 to $6.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Lake Street Capital dropped their price objective on shares of Lantronix from $8.00 to $7.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Finally, Roth Mkm reaffirmed a buy rating and set a $9.00 price target on shares of Lantronix in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $8.50.

Lantronix Stock Performance

NASDAQ LTRX opened at $3.86 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $145.06 million, a price-to-earnings ratio of -21.44 and a beta of 2.05. The firm’s 50 day simple moving average is $3.50 and its 200 day simple moving average is $4.71. Lantronix has a 1 year low of $3.08 and a 1 year high of $6.95.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Monday, April 29th. The technology company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $41.18 million during the quarter, compared to the consensus estimate of $40.80 million. Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.47%. As a group, research analysts expect that Lantronix will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Lantronix

Hedge funds and other institutional investors have recently modified their holdings of the business. AMH Equity Ltd grew its stake in Lantronix by 13.9% during the third quarter. AMH Equity Ltd now owns 1,138,682 shares of the technology company’s stock valued at $5,067,000 after acquiring an additional 138,682 shares in the last quarter. Jump Financial LLC purchased a new position in Lantronix during the third quarter valued at approximately $66,000. Barclays PLC purchased a new position in Lantronix during the third quarter valued at approximately $176,000. Algert Global LLC purchased a new position in Lantronix in the 3rd quarter worth approximately $50,000. Finally, Quadrature Capital Ltd purchased a new position in Lantronix in the 3rd quarter worth approximately $109,000. 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.