Lantronix (NASDAQ:LTRX) Earns “Buy” Rating from Needham & Company LLC

Lantronix (NASDAQ:LTRX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $5.50 target price on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 56.70% from the company’s previous close.

Several other brokerages also recently commented on LTRX. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group decreased their price objective on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $6.50.

Lantronix Stock Down 0.8 %

LTRX opened at $3.51 on Tuesday. The company has a market cap of $135.03 million, a P/E ratio of -25.07 and a beta of 1.94. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.90. The business’s 50-day moving average price is $3.45 and its 200-day moving average price is $3.69. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling

In related news, Director Hoshi Printer purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was bought at an average cost of $2.90 per share, with a total value of $43,500.00. Following the completion of the purchase, the director now directly owns 176,075 shares in the company, valued at approximately $510,617.50. This represents a 9.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saleel Awsare acquired 80,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the transaction, the chief executive officer now owns 233,184 shares in the company, valued at approximately $620,269.44. This represents a 52.22 % increase in their position. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lantronix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new stake in shares of Lantronix during the 2nd quarter valued at $42,000. Mackenzie Financial Corp bought a new stake in Lantronix during the second quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lantronix during the third quarter worth about $60,000. American Century Companies Inc. grew its holdings in Lantronix by 27.6% in the second 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 during the period. Finally, Barclays PLC increased its stake in shares of Lantronix by 235.9% during 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. 39.38% of the stock is owned by hedge funds and other institutional investors.

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.