Lantronix (NASDAQ:LTRX) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Lantronix (NASDAQ:LTRX) from a buy rating to a strong-buy rating in a research note released on Saturday.

Several other analysts have also commented on LTRX. Craig Hallum lowered their price objective on shares of Lantronix from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, April 30th. Lake Street Capital dropped their price target on Lantronix from $8.00 to $7.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Needham & Company LLC reaffirmed a buy rating and issued a $7.00 price target on shares of Lantronix in a research note on Tuesday, April 30th. Finally, Roth Mkm reissued a buy rating and set a $9.00 price objective on shares of Lantronix in a research report on Tuesday, April 30th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lantronix presently has an average rating of Buy and a consensus price target of $8.50.

Lantronix Price Performance

Shares of LTRX stock opened at $3.75 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. Lantronix has a fifty-two week low of $3.08 and a fifty-two week high of $6.95. The business’s 50 day moving average price is $3.51 and its 200-day moving average price is $4.69.

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

Insider Buying and Selling at Lantronix

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

Hedge Funds Weigh In On Lantronix

Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in shares of Lantronix by 11.4% in the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after purchasing an additional 165,711 shares in the last quarter. Vanguard Group Inc. raised its position in Lantronix by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after buying an additional 131,476 shares during the last quarter. AMH Equity Ltd lifted its stake in Lantronix by 16.0% during the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock valued at $7,742,000 after acquiring an additional 182,552 shares during the period. AWM Investment Company Inc. boosted its holdings in shares of Lantronix by 29.8% during the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after acquiring an additional 227,374 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Lantronix by 4.8% in the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after acquiring an additional 24,250 shares during the period. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

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.