Lantronix, Inc. (NASDAQ:LTRX) Receives $7.30 Consensus Price Target from Brokerages

Lantronix, Inc. (NASDAQ:LTRX) has been assigned an average recommendation of “Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.30.

Several brokerages recently commented on LTRX. Needham & Company LLC reissued a “buy” rating and issued 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 note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price target for the company. Finally, StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th.

Lantronix Trading Down 27.7 %

Shares of LTRX opened at $2.82 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. Lantronix has a 52-week low of $2.65 and a 52-week high of $6.95. The business’s fifty day moving average is $3.93 and its 200-day moving average is $3.77.

Lantronix (NASDAQ:LTRX) last released its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $49.08 million for the quarter, compared to analysts’ expectations of $49.10 million. Lantronix had a negative return on equity of 2.14% and a negative net margin of 2.82%. As a group, analysts forecast that Lantronix will post -0.01 earnings per share for the current year.

Insider Transactions at Lantronix

In related news, major shareholder Bernhard Bruscha sold 8,435 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total value of $33,740.00. Following the sale, the insider now owns 5,373,036 shares of the company’s stock, valued at $21,492,144. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 85,065 shares of company stock worth $356,232. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its holdings in Lantronix by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock valued at $1,439,000 after buying an additional 6,171 shares during the period. SG Americas Securities LLC bought a new stake in shares of Lantronix during the 1st quarter valued at about $55,000. Vanguard Group Inc. grew its stake in Lantronix by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after purchasing an additional 131,476 shares during the period. Acadian Asset Management LLC bought a new stake in Lantronix in the first quarter worth approximately $369,000. Finally, Heron Bay Capital Management acquired a new position in Lantronix in the first quarter valued at approximately $226,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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.