Lantronix (LTRX) Set to Announce Earnings on Monday

Lantronix (NASDAQ:LTRX) is scheduled to be posting 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 are interested in participating in the company’s earnings conference call can do so using this link.

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

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $3.27 on Friday. The company’s fifty day moving average price is $3.61 and its 200 day moving average price is $4.77. Lantronix has a 12 month low of $3.08 and a 12 month high of $6.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.19. The firm has a market capitalization of $122.56 million, a P/E ratio of -13.04 and a beta of 2.12.

Analysts Set New Price Targets

LTRX has been the topic of several research analyst reports. 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 research note 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 research note on Tuesday, March 12th. Finally, StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $9.20.

Insiders Place Their Bets

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

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.