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

StockNews.com upgraded shares of Lantronix (NASDAQ:LTRX) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

Several other brokerages have also recently issued reports on LTRX. Needham & Company LLC reissued a buy rating and set a $7.00 price objective on shares of Lantronix in a research note on Friday, September 6th. Canaccord Genuity Group began coverage on Lantronix in a research report on Wednesday, September 11th. They set a buy rating and a $7.50 price target for the company. Finally, Roth Mkm restated a buy rating and issued a $9.00 price objective on shares of Lantronix in a report on Monday, June 17th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $7.30.

Lantronix Price Performance

LTRX opened at $3.80 on Wednesday. Lantronix has a 1 year low of $3.08 and a 1 year high of $6.95. The company’s 50 day simple moving average is $3.76 and its 200 day simple moving average is $3.66. The stock has a market capitalization of $142.80 million, a PE ratio of -21.11 and a beta of 2.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the transaction, the insider now owns 5,373,036 shares in the company, valued at $21,492,144. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 64,014 shares of company stock worth $267,136. Corporate insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new stake in Lantronix in the second quarter valued at approximately $42,000. Mackenzie Financial Corp purchased a new position in shares of Lantronix in the second quarter valued at $50,000. SG Americas Securities LLC acquired a new stake in Lantronix during the 1st quarter valued at $55,000. American Century Companies Inc. increased its stake in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after buying an additional 5,693 shares during the period. Finally, Jump Financial LLC lifted its holdings in Lantronix by 115.4% in the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after buying an additional 17,138 shares in the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

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.