Insider Selling: Lantronix, Inc. (NASDAQ:LTRX) Major Shareholder Sells 25,000 Shares of Stock

Lantronix, Inc. (NASDAQ:LTRX) major shareholder Bernhard Bruscha sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $4.17, for a total transaction of $104,250.00. Following the completion of the transaction, the insider now owns 5,218,971 shares in the company, valued at approximately $21,763,109.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Bernhard Bruscha also recently made the following trade(s):

• On Thursday, September 12th, Bernhard Bruscha sold 31,630 shares of Lantronix stock. The stock was sold at an average price of $4.32, for a total transaction of $136,641.60.
• On Tuesday, September 10th, Bernhard Bruscha sold 8,435 shares of Lantronix stock. The shares were sold at an average price of $4.00, for a total transaction of $33,740.00.
• On Wednesday, July 31st, Bernhard Bruscha sold 23,949 shares of Lantronix stock. The stock was sold at an average price of $4.04, for a total value of $96,753.96.

Lantronix Stock Down 2.7 %

NASDAQ LTRX traded down $0.11 during mid-day trading on Tuesday, hitting $4.01. The company’s stock had a trading volume of 280,890 shares, compared to its average volume of 282,027. 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 company’s 50 day simple moving average is $3.78 and its 200 day simple moving average is $3.67. Lantronix, Inc. has a twelve month low of $3.08 and a twelve month high of $6.95. The firm has a market capitalization of $150.70 million, a price-to-earnings ratio of -21.67 and a beta of 2.12.

Lantronix (NASDAQ:LTRX) last posted its earnings results 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. The company had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. Analysts anticipate that Lantronix, Inc. will post -0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on LTRX. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. Roth Mkm reiterated a “buy” rating and issued a $9.00 price objective on shares of Lantronix in a research note on Monday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Lantronix in a research note on Friday, September 6th. Finally, Canaccord Genuity Group started coverage on shares of Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price target for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $7.30.

Institutional Investors Weigh In On Lantronix

Institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in Lantronix during the 2nd quarter worth $42,000. Mackenzie Financial Corp bought a new position in shares of Lantronix during the second quarter valued at about $50,000. SG Americas Securities LLC purchased a new position in Lantronix during the first quarter worth about $55,000. American Century Companies Inc. grew its position in Lantronix by 27.6% in the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after purchasing 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 about $226,000. 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.