Lantronix’s (LTRX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Lantronix (NASDAQ:LTRX) in a report issued on Tuesday morning, Benzinga reports. They currently have a $7.00 price objective on the technology company’s stock.

A number of other brokerages have also recently weighed in on LTRX. Roth Mkm reiterated a buy rating and set a $9.00 price target on shares of Lantronix in a research report on Tuesday. StockNews.com raised shares of Lantronix from a buy rating to a strong-buy rating in a report on Tuesday, February 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and an average price target of $8.50.

Lantronix Stock Performance

Shares of LTRX opened at $3.64 on Tuesday. The stock has a market capitalization of $136.42 million, a PE ratio of -20.22 and a beta of 2.05. The business’s fifty day moving average price is $3.54 and its 200 day moving average price is $4.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.19. Lantronix has a 12-month low of $3.08 and a 12-month high of $6.95.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Lantronix had a negative return on equity of 8.50% and a negative net margin of 4.48%. The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $37.20 million. Equities research analysts forecast that Lantronix will post -0.04 EPS for the current year.

Insider Buying and Selling

In other news, CEO Saleel Awsare bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average price of $3.91 per share, with a total value of $78,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at $78,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Philip G. Brace bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $3.95 per share, with a total value of $59,250.00. Following the completion of the purchase, the director now directly owns 27,000 shares of the company’s stock, valued at approximately $106,650. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Saleel Awsare purchased 20,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $3.91 per share, for a total transaction of $78,200.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $78,200. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in LTRX. Barclays PLC acquired a new position in Lantronix in the third quarter worth approximately $176,000. Citigroup Inc. acquired a new position in shares of Lantronix in the 3rd quarter worth $35,000. Jump Financial LLC purchased a new stake in shares of Lantronix during the third quarter valued at $66,000. Quadrature Capital Ltd purchased a new position in Lantronix in the 3rd quarter worth about $109,000. Finally, Algert Global LLC acquired a new stake in Lantronix during the 3rd quarter worth about $50,000. 39.38% of the stock is currently owned by 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.