StockNews.com Downgrades Lantronix (NASDAQ:LTRX) to Buy

Lantronix (NASDAQ:LTRX) 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.

Lantronix Trading Down 0.8 %

NASDAQ LTRX traded down $0.03 during mid-day trading on Friday, reaching $3.89. 158,711 shares of the stock were exchanged, compared to its average volume of 279,892. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95. The business’s fifty day simple moving average is $3.78 and its 200 day simple moving average is $3.67. The stock has a market capitalization of $146.19 million, a PE ratio of -21.61 and a beta of 2.13.

Lantronix (NASDAQ:LTRX) 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.