Lantronix (NASDAQ:LTRX) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other analysts also recently weighed in on LTRX. Needham & Company LLC lowered their price objective on Lantronix from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday. Lake Street Capital lowered their price objective on Lantronix from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group lowered their price objective on Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.13.

Lantronix Stock Down 2.4%

Shares of LTRX opened at $2.05 on Monday. The firm has a market cap of $79.52 million, a P/E ratio of -15.77 and a beta of 1.49. The stock has a 50 day simple moving average of $2.33 and a two-hundred day simple moving average of $3.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69. Lantronix has a 1 year low of $1.91 and a 1 year high of $4.55.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 forecast that Lantronix will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Lantronix

In other Lantronix news, CEO Saleel Awsare bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $2.53 per share, for a total transaction of $37,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 253,380 shares in the company, valued at $641,051.40. The trade was a 6.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin S. Palatnik bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $2.54 per share, with a total value of $50,800.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, 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 a total of 50,000 shares of company stock worth $129,250 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in LTRX. Barclays PLC raised its holdings in shares of Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after acquiring an additional 43,770 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock worth $171,000 after purchasing an additional 18,996 shares during the period. Amundi purchased a new stake in Lantronix in the fourth quarter worth $42,000. Truffle Hound Capital LLC purchased a new stake in Lantronix in the fourth quarter worth $4,120,000. Finally, American Century Companies Inc. grew its stake in Lantronix by 43.9% in the fourth quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock worth $181,000 after purchasing an additional 13,402 shares during the period. 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.