Lantronix, Inc. (NASDAQ:LTRX) CEO Acquires $212,800.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) CEO Saleel Awsare purchased 80,000 shares of Lantronix stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the purchase, the chief executive officer now directly owns 233,184 shares in the company, valued at $620,269.44. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lantronix Stock Up 4.7 %

Shares of NASDAQ:LTRX traded up $0.12 during trading on Wednesday, reaching $2.66. The stock had a trading volume of 833,004 shares, compared to its average volume of 294,402. Lantronix, Inc. has a one year low of $2.48 and a one year high of $6.95. The company has a market capitalization of $102.33 million, a P/E ratio of -19.00 and a beta of 2.14. The company has a current ratio of 2.61, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $3.88 and its 200 day simple moving average is $3.76.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The business had revenue of $49.08 million for the quarter, compared to analysts’ expectations of $49.10 million. As a group, research analysts expect that Lantronix, Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Lantronix

A number of institutional investors have recently bought and sold shares of LTRX. SG Americas Securities LLC acquired a new stake in Lantronix in the 1st quarter worth approximately $55,000. Vanguard Group Inc. lifted its stake in Lantronix by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after acquiring an additional 131,476 shares during the period. Acadian Asset Management LLC acquired a new stake in Lantronix during the 1st quarter valued at approximately $369,000. Heron Bay Capital Management acquired a new stake in Lantronix during the 1st quarter valued at approximately $226,000. Finally, AWM Investment Company Inc. lifted its stake in Lantronix by 29.8% during the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after acquiring an additional 227,374 shares during the period. 39.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on LTRX shares. Canaccord Genuity Group cut their target price on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Needham & Company LLC cut their target price on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.50.

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.