Lantronix, Inc. (NASDAQ:LTRX) Given Consensus Recommendation of “Buy” by Brokerages

Lantronix, Inc. (NASDAQ:LTRX) has earned an average recommendation of “Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $6.00.

A number of analysts have weighed in on LTRX shares. StockNews.com cut Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Lake Street Capital reduced their price target on Lantronix from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $5.50 price target on shares of Lantronix in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group reduced their price target on Lantronix from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, February 7th.

Lantronix Stock Down 6.4 %

Lantronix stock opened at $2.63 on Tuesday. Lantronix has a twelve month low of $2.48 and a twelve month high of $4.55. The stock has a 50 day moving average of $3.47 and a two-hundred day moving average of $3.58. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $102.02 million, a price-to-earnings ratio of -20.23 and a beta of 2.00.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. As a group, research analysts expect that Lantronix will post -0.23 earnings per share for the current year.

Insider Activity

In other news, CEO Saleel Awsare acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $2.53 per share, with a total value of $37,950.00. Following the purchase, the chief executive officer now directly owns 253,380 shares of the company’s stock, valued at approximately $641,051.40. This trade represents a 6.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin S. Palatnik acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $2.54 per share, with a total value of $50,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $50,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 50,000 shares of company stock valued at $129,250 in the last three months. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lantronix

Hedge funds have recently bought and sold shares of the company. Amundi purchased a new position in Lantronix in the 4th quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lantronix during the third quarter worth $60,000. Balyasny Asset Management L.P. purchased a new position in Lantronix during the fourth quarter worth $79,000. Wolverine Trading LLC purchased a new position in Lantronix during the fourth quarter worth $95,000. Finally, Algert Global LLC increased its position in Lantronix by 49.5% during the fourth quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after buying an additional 9,180 shares in the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.

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.