Lantronix, Inc. (NASDAQ:LTRX) Receives Consensus Rating of “Buy” from Analysts

Lantronix, Inc. (NASDAQ:LTRX) has been assigned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $7.30.

Several equities research analysts recently issued reports on LTRX shares. Roth Mkm reissued a “buy” rating and issued a $9.00 target price on shares of Lantronix in a research report on Monday, June 17th. Canaccord Genuity Group began coverage on Lantronix in a report on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective for the company. StockNews.com cut Lantronix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Lantronix in a report on Friday, September 6th.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the transaction, the insider now owns 5,373,036 shares in the company, valued at $21,492,144. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 64,014 shares of company stock worth $267,136. Corporate insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of institutional investors and hedge funds have recently bought and sold shares of LTRX. ProShare Advisors LLC acquired a new position in shares of Lantronix during the second quarter worth $42,000. Mackenzie Financial Corp acquired a new position in Lantronix in the 2nd quarter worth $50,000. SG Americas Securities LLC purchased a new position in Lantronix in the 1st quarter valued at about $55,000. American Century Companies Inc. increased its position in shares of Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Lantronix during the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Lantronix Stock Performance

Shares of Lantronix stock opened at $3.83 on Tuesday. The firm has a market cap of $143.93 million, a PE ratio of -21.28 and a beta of 2.12. The company has a quick ratio of 1.32, a current ratio of 2.95 and a debt-to-equity ratio of 0.16. Lantronix has a fifty-two week low of $3.08 and a fifty-two week high of $6.95. The business’s fifty day moving average is $3.77 and its two-hundred day moving average is $3.66.

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.