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

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

LTRX has been the subject of several other reports. Roth Mkm reissued a buy rating and set a $9.00 target price on shares of Lantronix in a research report on Monday, June 17th. StockNews.com raised Lantronix from a buy rating to a strong-buy rating in a report on Saturday, May 25th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $7.25.

Lantronix Stock Performance

NASDAQ LTRX opened at $4.14 on Friday. The company has a market cap of $156.78 million, a P/E ratio of -23.00 and a beta of 2.12. The company has a fifty day simple moving average of $3.68 and a 200 day simple moving average of $3.65. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. Lantronix has a 12-month low of $3.08 and a 12-month high of $6.95.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 23,949 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $4.04, for a total value of $96,753.96. Following the completion of the sale, the insider now owns 5,381,471 shares in the company, valued at approximately $21,741,142.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. 17.30% of the stock is owned by insiders.

Institutional Trading of Lantronix

A number of institutional investors and hedge funds have recently modified their holdings of LTRX. First Eagle Investment Management LLC grew its stake in Lantronix by 65.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after purchasing an additional 336,781 shares during the period. AWM Investment Company Inc. boosted its holdings in shares of Lantronix by 29.8% in the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after buying an additional 227,374 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Lantronix by 11.4% in the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after buying an additional 165,711 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after buying an additional 159,671 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Lantronix by 30.4% during the second quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock worth $2,323,000 after buying an additional 152,400 shares during the last quarter. 39.38% of the stock is owned by hedge funds and other 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.