Lantronix (NASDAQ:LTRX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Lantronix (NASDAQ:LTRX) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $7.00 price objective on the technology company’s stock.

Several other equities research analysts also recently weighed in on the stock. Roth Mkm reiterated a buy rating and set a $9.00 target price on shares of Lantronix in a research note on Tuesday. StockNews.com raised Lantronix from a buy rating to a strong-buy rating in a research note on Tuesday, February 13th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lantronix currently has a consensus rating of Buy and a consensus price target of $8.50.

Lantronix Trading Down 1.1 %

LTRX opened at $3.64 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The business’s 50 day moving average is $3.54 and its two-hundred day moving average is $4.74. The firm has a market cap of $136.42 million, a price-to-earnings ratio of -20.22 and a beta of 2.05.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Lantronix had a negative return on equity of 8.50% and a negative net margin of 4.48%. The business had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $37.20 million. On average, research analysts predict that Lantronix will post -0.04 EPS for the current year.

Insider Activity at Lantronix

In other Lantronix news, CEO Saleel Awsare acquired 20,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased 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 of the company’s stock, valued at approximately $78,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Saleel Awsare purchased 20,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $3.91 per share, with a total value of $78,200.00. Following the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $78,200. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Philip G. Brace purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $3.95 per share, with a total value of $59,250.00. Following the acquisition, the director now directly owns 27,000 shares in the company, valued at $106,650. The disclosure for this purchase can be found here. Company insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

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