Lantronix, Inc. (NASDAQ:LTRX) Receives Average Recommendation of “Buy” from Brokerages

Lantronix, Inc. (NASDAQ:LTRX) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

Several analysts have issued reports on LTRX shares. StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th. Lake Street Capital dropped their target price on Lantronix from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Lantronix in a report on Tuesday, April 30th. Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of Lantronix in a report on Monday, June 17th. Finally, Craig Hallum dropped their target price on Lantronix from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, April 30th.

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 23,949 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $4.04, for a total value of $96,753.96. Following the transaction, the insider now owns 5,381,471 shares of the company’s stock, valued at approximately $21,741,142.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Several large investors have recently modified their holdings of LTRX. Citigroup Inc. acquired a new position in Lantronix during the 3rd quarter worth about $35,000. Jump Financial LLC lifted its stake in Lantronix by 115.4% during the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after acquiring an additional 17,138 shares in the last quarter. SG Americas Securities LLC acquired a new position in Lantronix during the 1st quarter worth about $55,000. Hillsdale Investment Management Inc. acquired a new position in Lantronix during the 4th quarter worth about $148,000. Finally, First Eagle Investment Management LLC lifted its stake in Lantronix by 4.8% during the 4th quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after acquiring an additional 24,250 shares in the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

Lantronix Stock Down 5.0 %

Shares of LTRX opened at $3.79 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 2.25. Lantronix has a one year low of $3.08 and a one year high of $6.95. The stock has a market capitalization of $142.43 million, a price-to-earnings ratio of -21.06 and a beta of 2.13. The stock has a 50 day moving average price of $3.75 and a 200 day moving average price of $4.05.

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.