Needham & Company LLC Reiterates “Buy” Rating for Lantronix (NASDAQ:LTRX)

Lantronix (NASDAQ:LTRX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $7.00 price target on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 89.70% from the company’s current price.

LTRX has been the topic of a number of other research reports. StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Roth Mkm reaffirmed a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $8.50.

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $3.69 on Tuesday. Lantronix has a twelve month low of $3.08 and a twelve month high of $6.95. The company’s 50 day moving average is $3.56 and its 200 day moving average is $4.75. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19. The company has a market cap of $138.30 million, a PE ratio of -20.50 and a beta of 2.12.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $37.20 million. On average, sell-side analysts forecast that Lantronix will post -0.04 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LTRX. AMH Equity Ltd lifted its holdings in Lantronix by 16.0% in the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock valued at $7,742,000 after purchasing an additional 182,552 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Lantronix by 11.4% in the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after purchasing an additional 165,711 shares in the last quarter. Barclays PLC purchased a new position in Lantronix in the 3rd quarter valued at $176,000. Hillsdale Investment Management Inc. purchased a new position in Lantronix in the 4th quarter valued at $148,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Lantronix during the 3rd quarter worth $109,000. Hedge funds and other institutional investors own 39.38% of the company’s stock.

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.