Lantronix, Inc. (NASDAQ:LTRX) Director Kevin S. Palatnik Buys 20,000 Shares

Lantronix, Inc. (NASDAQ:LTRX) Director Kevin S. Palatnik bought 20,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $2.54 per share, with a total value of $50,800.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $50,800. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lantronix Stock Up 9.1 %

LTRX stock opened at $2.75 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69. The stock has a market capitalization of $106.67 million, a P/E ratio of -21.15 and a beta of 1.94. Lantronix, Inc. has a fifty-two week low of $2.48 and a fifty-two week high of $4.55. The business has a 50-day moving average of $3.56 and a 200-day moving average of $3.60.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. On average, sell-side analysts anticipate that Lantronix, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LTRX. Barclays PLC grew its stake in Lantronix by 235.9% in the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after purchasing an additional 43,770 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lantronix by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock worth $1,394,000 after purchasing an additional 10,413 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Lantronix by 61.9% during the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company’s stock worth $294,000 after buying an additional 27,325 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lantronix in the 3rd quarter valued at about $60,000. Finally, Marshall Wace LLP raised its holdings in Lantronix by 16.5% in the 4th quarter. Marshall Wace LLP now owns 483,868 shares of the technology company’s stock valued at $1,994,000 after acquiring an additional 68,669 shares in the last quarter. Institutional investors own 39.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LTRX shares. Canaccord Genuity Group dropped their price objective on shares of Lantronix from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, February 7th. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Lake Street Capital dropped their price target on shares of Lantronix from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $5.50 target price on shares of Lantronix in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.00.

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.