Lantronix’s (LTRX) “Buy” Rating Reaffirmed at Needham & Company LLC

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

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

Lantronix Trading Up 7.7 %

NASDAQ LTRX opened at $3.78 on Tuesday. The firm has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $3.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. Lantronix has a one year low of $2.48 and a one year high of $6.90. The firm has a market cap of $145.42 million, a price-to-earnings ratio of -27.00 and a beta of 1.94.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 business had revenue of $34.42 million during the quarter, compared to analysts’ expectations of $37.10 million. During the same period in the previous year, the business posted ($0.05) EPS. Equities research analysts anticipate that Lantronix will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lantronix

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in Lantronix by 27.6% in 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 last quarter. Dimensional Fund Advisors LP grew its position in Lantronix by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after buying an additional 159,671 shares during the last quarter. Renaissance Technologies LLC grew its position in Lantronix by 30.4% in the 2nd quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock valued at $2,323,000 after buying an additional 152,400 shares during the last quarter. XTX Topco Ltd grew its position in Lantronix by 217.7% in the 2nd quarter. XTX Topco Ltd now owns 149,855 shares of the technology company’s stock valued at $532,000 after buying an additional 102,688 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in Lantronix in the 2nd quarter valued at $42,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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.