Lantronix (NASDAQ:LTRX) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Lantronix (NASDAQ:LTRX) from a strong-buy rating to a buy rating in a research note published on Friday.

Several other analysts also recently commented on LTRX. Needham & Company LLC restated a buy rating and issued a $7.00 target price on shares of Lantronix in a research note on Friday, September 6th. Canaccord Genuity Group started coverage on Lantronix in a report on Wednesday, September 11th. They set a buy rating and a $7.50 price objective for the company. Finally, Roth Mkm restated a buy rating and issued a $9.00 target price on shares of Lantronix in a report on Monday, June 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $7.30.

Lantronix Stock Down 1.8 %

Shares of NASDAQ LTRX opened at $3.82 on Friday. Lantronix has a 52-week low of $3.08 and a 52-week 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 company’s 50 day moving average price is $3.78 and its 200-day moving average price is $3.68. The company has a market capitalization of $143.56 million, a P/E ratio of -21.22 and a beta of 2.13.

Lantronix (NASDAQ:LTRX) last issued its quarterly 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 firm had revenue of $49.08 million during the quarter, compared to the consensus estimate of $49.10 million. Lantronix had a negative return on equity of 2.14% and a negative net margin of 2.82%. Equities analysts forecast that Lantronix will post -0.01 earnings per share for the current year.

Insider Transactions at Lantronix

In related news, major shareholder Bernhard Bruscha sold 8,435 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the completion of the sale, the insider now directly owns 5,373,036 shares of the company’s stock, valued at approximately $21,492,144. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 89,014 shares of company stock worth $371,386 in the last 90 days. Insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

Several hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC purchased a new stake in Lantronix in the second quarter worth $42,000. Mackenzie Financial Corp purchased a new position in shares of Lantronix in the second quarter worth about $50,000. SG Americas Securities LLC bought a new stake in shares of Lantronix in the first quarter valued at approximately $55,000. American Century Companies Inc. lifted its stake 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 position in Lantronix in the 1st quarter worth approximately $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.