Lantronix (LTRX) Set to Announce Earnings on Monday

Lantronix (NASDAQ:LTRX) is scheduled to be announcing its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce 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.

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

Lantronix Stock Performance

LTRX stock traded up $0.06 during trading on Friday, hitting $3.26. The company had a trading volume of 74,974 shares, compared to its average volume of 299,301. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $3.61 and a 200-day moving average price of $4.77. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The firm has a market cap of $122.18 million, a PE ratio of -13.04 and a beta of 2.12.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have weighed in on LTRX shares. Roth Mkm cut their price target on Lantronix from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 9th. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Finally, Needham & Company LLC reduced their target price on shares of Lantronix from $8.50 to $7.00 and set a “buy” rating for the company in a report on Tuesday, March 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lantronix currently has a consensus rating of “Buy” and an average price target of $9.20.

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.