Lantronix (NASDAQ:LTRX) Cut to Buy at StockNews.com

StockNews.com cut shares of Lantronix (NASDAQ:LTRX) from a strong-buy rating to a buy rating in a research report released on Monday.

Several other research firms also recently weighed in on LTRX. Canaccord Genuity Group initiated coverage on shares of Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 target price for the company. Needham & Company LLC cut their price target on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $7.00.

Lantronix Trading Down 7.8 %

NASDAQ:LTRX opened at $2.60 on Monday. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.95. The company has a current ratio of 2.95, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $3.91 and its 200 day moving average is $3.78. The stock has a market capitalization of $99.05 million, a PE ratio of -18.57 and a beta of 2.14.

Lantronix (NASDAQ:LTRX) last issued its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. Sell-side analysts expect that Lantronix will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In other Lantronix news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.32, for a total value of $136,641.60. Following the sale, the insider now owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 85,065 shares of company stock worth $356,232 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Lantronix

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC purchased a new position in Lantronix in the second quarter worth $42,000. Mackenzie Financial Corp purchased a new position in shares of Lantronix in the 2nd quarter worth about $50,000. SG Americas Securities LLC bought a new position in shares of Lantronix during the 1st quarter valued at about $55,000. American Century Companies Inc. raised its holdings in shares of Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after buying an additional 5,693 shares in the last quarter. Finally, Heron Bay Capital Management bought a new stake in Lantronix in the 1st quarter worth approximately $226,000. Hedge funds and other institutional investors own 39.38% of the company’s stock.

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.