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

Shares of Lantronix, Inc. (NASDAQ:LTRX) have been assigned an average recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $6.00.

A number of analysts have recently weighed in on the stock. Lake Street Capital reduced their target price on shares of Lantronix from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group cut their price objective on shares of Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.50 target price on shares of Lantronix in a report on Tuesday, January 21st.

Insider Activity at Lantronix

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

Institutional Trading of Lantronix

A number of large investors have recently made changes to their positions in the stock. Amundi bought a new position in Lantronix during the fourth quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lantronix during the 3rd quarter valued at $60,000. Balyasny Asset Management L.P. purchased a new position in shares of Lantronix in the 4th quarter worth $79,000. Wolverine Trading LLC bought a new stake in shares of Lantronix in 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 valued at $114,000 after acquiring an additional 9,180 shares during the last quarter. 39.38% of the stock is currently owned by institutional investors.

Lantronix Stock Performance

Shares of LTRX opened at $2.01 on Friday. The company has a 50-day simple moving average of $2.95 and a two-hundred day simple moving average of $3.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69. The firm has a market capitalization of $77.97 million, a PE ratio of -15.46 and a beta of 2.00. Lantronix has a one year low of $1.92 and a one year high of $4.55.

Lantronix (NASDAQ:LTRX) last released its earnings results on Thursday, February 13th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.62%. On average, analysts anticipate that Lantronix will post -0.23 EPS for the current fiscal year.

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.