Lantronix (NASDAQ:LTRX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Lantronix (NASDAQ:LTRX) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $4.50 price objective on the technology company’s stock.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Lantronix from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Canaccord Genuity Group decreased their price target on shares of Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, Lake Street Capital decreased their price target on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $4.17.

Lantronix Price Performance

NASDAQ LTRX opened at $4.65 on Thursday. The business has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $2.66. Lantronix has a 52-week low of $1.91 and a 52-week high of $4.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.69 and a current ratio of 2.68. The stock has a market cap of $180.84 million, a price-to-earnings ratio of -15.50 and a beta of 1.52.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Manatuck Hill Partners LLC bought a new position in shares of Lantronix in the second quarter valued at $302,000. Marshall Wace LLP grew its stake in shares of Lantronix by 10.6% in the second quarter. Marshall Wace LLP now owns 446,164 shares of the technology company’s stock valued at $1,280,000 after buying an additional 42,838 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Lantronix in the second quarter valued at $268,000. XTX Topco Ltd bought a new position in shares of Lantronix in the second quarter valued at $86,000. Finally, AMH Equity Ltd grew its stake in shares of Lantronix by 24.5% in the second quarter. AMH Equity Ltd now owns 250,000 shares of the technology company’s stock valued at $718,000 after buying an additional 49,219 shares in the last quarter. 39.38% of the stock is owned by 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.