Lantronix (NASDAQ:LTRX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Lantronix (NASDAQ:LTRXGet Rating) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Lantronix designs, develops and markets products that enable almost any electronic device to be controlled, configured or reprogrammed over the Internet and/or intranets. The company’s products connect these electronic devices to the Internet and/or intranets by using the infrastructure already in place to connect businesses and homes to the Internet, including fiber optic, Ethernet and wireless connections. Its primary products that connect electronic devices are its Device Servers and Multiport Device Servers. “

A number of other brokerages have also recently weighed in on LTRX. Canaccord Genuity Group assumed coverage on shares of Lantronix in a research report on Monday, February 14th. They set a buy rating and a $13.00 price target on the stock. Canaccord Genuity Group assumed coverage on shares of Lantronix in a research report on Monday, February 14th. They set a buy rating and a $13.00 price target on the stock. Finally, StockNews.com assumed coverage on shares of Lantronix in a research report on Thursday, March 31st. They set a hold rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $11.11.

Lantronix stock opened at $6.51 on Wednesday. Lantronix has a 1 year low of $4.32 and a 1 year high of $10.25. The firm has a 50 day moving average price of $6.86 and a 200 day moving average price of $7.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.15 and a current ratio of 3.13.

Lantronix (NASDAQ:LTRXGet Rating) last released its earnings results on Thursday, February 10th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). Lantronix had a negative net margin of 7.02% and a negative return on equity of 13.00%. The company had revenue of $33.68 million during the quarter, compared to analysts’ expectations of $30.10 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts expect that Lantronix will post -0.17 earnings per share for the current fiscal year.

In other Lantronix news, CEO Paul H. Pickle sold 6,112 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $6.58, for a total transaction of $40,216.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hoshi Printer sold 12,026 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $6.83, for a total transaction of $82,137.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,412 shares of company stock valued at $157,674. Insiders own 25.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Everett Harris & Co. CA grew its position in shares of Lantronix by 71.4% during the fourth quarter. Everett Harris & Co. CA now owns 24,000 shares of the technology company’s stock worth $188,000 after acquiring an additional 10,000 shares during the last quarter. EAM Investors LLC bought a new position in shares of Lantronix during the third quarter worth about $1,445,000. Russell Investments Group Ltd. bought a new position in shares of Lantronix during the fourth quarter worth about $3,188,000. ClariVest Asset Management LLC bought a new position in shares of Lantronix during the third quarter worth about $703,000. Finally, Barclays PLC grew its position in shares of Lantronix by 357.0% during the third quarter. Barclays PLC now owns 6,586 shares of the technology company’s stock worth $38,000 after acquiring an additional 5,145 shares during the last quarter. Hedge funds and other institutional investors own 17.15% of the company’s stock.

About Lantronix (Get Rating)

Lantronix, Inc provides software as a service (SaaS), engineering services, and hardware for edge computing, the Internet of Things (IoT), and remote environment management (REM) in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT Connectivity, 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; IoT Compute, 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 IoT Telematics, which provides power efficient products designed to support communications across interfaces and industrial protocols for vehicle, fleet, and asset tracking and management.

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