Lantronix (NASDAQ:LTRX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lantronix (NASDAQ:LTRX) in a research report report published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $5.50 price objective on the technology company’s stock.

A number of other research analysts also recently issued reports on LTRX. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group reduced their price objective on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $6.50.

Lantronix Price Performance

NASDAQ LTRX opened at $3.99 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. The stock has a 50-day moving average of $3.50 and a 200 day moving average of $3.69. Lantronix has a one year low of $2.48 and a one year high of $6.66. The company has a market capitalization of $153.50 million, a price-to-earnings ratio of -28.50 and a beta of 1.94.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.16). The firm had revenue of $34.42 million during the quarter, compared to the consensus estimate of $37.10 million. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. During the same period in the prior year, the company posted ($0.05) EPS. On average, sell-side analysts forecast that Lantronix will post -0.07 EPS for the current year.

Insider Activity at Lantronix

In other news, CEO Saleel Awsare bought 80,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the transaction, the chief executive officer now owns 233,184 shares of the company’s stock, valued at $620,269.44. The trade was a 52.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hoshi Printer acquired 15,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was acquired at an average cost of $2.90 per share, with a total value of $43,500.00. Following the completion of the purchase, the director now directly owns 176,075 shares in the company, valued at approximately $510,617.50. This represents a 9.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

Several hedge funds and other institutional investors have recently made changes to their positions in LTRX. ProShare Advisors LLC bought a new position in Lantronix during the 2nd quarter valued at about $42,000. Mackenzie Financial Corp bought a new position in shares of Lantronix during the second quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lantronix during the third quarter valued at approximately $60,000. American Century Companies Inc. lifted its stake in shares of Lantronix by 27.6% during the 2nd 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, Barclays PLC lifted its stake in shares of Lantronix by 235.9% during the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after acquiring an additional 43,770 shares during the last quarter. 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.