Lantronix (LTRX) Set to Announce Earnings on Monday

Lantronix (NASDAQ:LTRX) is scheduled to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Lantronix to post earnings of $0.09 per share for the quarter. Lantronix has set its FY 2024 guidance at 0.350-0.450 EPS and its Q3 2024 guidance at 0.090-0.130 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $37.20 million. Lantronix had a negative return on equity of 11.89% and a negative net margin of 6.67%. On average, analysts expect Lantronix to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Lantronix Stock Performance

Shares of NASDAQ:LTRX opened at $3.27 on Friday. The company has a market capitalization of $122.56 million, a price-to-earnings ratio of -13.04 and a beta of 2.12. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $3.61 and a 200 day moving average of $4.77.

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 9,409 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $6.03, for a total transaction of $56,736.27. Following the sale, the insider now directly owns 5,406,471 shares of the company’s stock, valued at $32,601,020.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Saleel Awsare acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $3.91 per share, for a total transaction of $78,200.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $78,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the completion of the transaction, the insider now owns 5,406,471 shares of the company’s stock, valued at approximately $32,601,020.13. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LTRX shares. Roth Mkm cut their price target on shares of Lantronix from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Needham & Company LLC cut their price target on shares of Lantronix from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, March 12th. Finally, StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lantronix has an average rating of “Buy” and a consensus price target of $9.20.

Lantronix Company Profile

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.