Lantronix (NASDAQ:LTRX – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.
A number of other research firms have also recently issued reports on LTRX. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Lantronix in a report on Friday, September 6th. Roth Mkm restated a “buy” rating and issued a $9.00 price objective on shares of Lantronix in a research note on Monday, June 17th. Finally, Canaccord Genuity Group started coverage on Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $7.30.
Read Our Latest Report on Lantronix
Lantronix Trading Down 0.8 %
Lantronix (NASDAQ:LTRX – Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. The business had revenue of $49.08 million for the quarter, compared to analysts’ expectations of $49.10 million. On average, research analysts anticipate that Lantronix will post -0.01 earnings per share for the current fiscal year.
Insider Buying and Selling at Lantronix
In other news, major shareholder Bernhard Bruscha sold 25,000 shares of Lantronix stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $4.17, for a total value of $104,250.00. Following the completion of the transaction, the insider now owns 5,218,971 shares of the company’s stock, valued at $21,763,109.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 89,014 shares of company stock worth $371,386 over the last ninety days. 17.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lantronix
Several hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC bought a new position in Lantronix in the second quarter valued at about $42,000. Mackenzie Financial Corp purchased a new position in shares of Lantronix during the 2nd quarter valued at $50,000. SG Americas Securities LLC bought a new position in Lantronix in the 1st quarter worth about $55,000. American Century Companies Inc. boosted its position 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 acquiring an additional 5,693 shares during the last quarter. Finally, Heron Bay Capital Management bought a new stake in shares of Lantronix during the 1st quarter valued at about $226,000. Institutional investors and hedge funds own 39.38% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Lantronix
- Compound Interest and Why It Matters When Investing
- The Outlook for Interest Rate Cuts Got Blown Out of the Water
- Financial Services Stocks Investing
- 3 High-Risk, High-Reward Micro-Cap Stocks You Shouldn’t Ignore
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- 3 Bargain Stocks Positioned for Gains After Missing 2024’s Rally
Receive News & Ratings for Lantronix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lantronix and related companies with MarketBeat.com's FREE daily email newsletter.