Lantronix (NASDAQ:LTRX) Cut to Hold at StockNews.com

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

Several other brokerages also recently issued reports on LTRX. Lake Street Capital cut 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, May 9th. Canaccord Genuity Group lowered their price objective on shares of Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Monday. Finally, Needham & Company LLC lowered their price objective on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.13.

Lantronix Trading Up 9.8%

Shares of Lantronix stock opened at $2.35 on Monday. 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. The company has a market capitalization of $91.16 million, a P/E ratio of -18.08 and a beta of 1.49. The business has a 50 day moving average price of $2.31 and a 200 day moving average price of $3.03.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. Sell-side analysts anticipate that Lantronix will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Lantronix news, Director Hoshi Printer purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $2.70 per share, with a total value of $40,500.00. Following the transaction, the director now owns 191,425 shares in the company, valued at approximately $516,847.50. This trade represents a 8.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin S. Palatnik purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $2.54 per share, with a total value of $50,800.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $50,800. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 75,011 shares of company stock valued at $183,723. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

A number of institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in Lantronix by 3.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock worth $1,171,000 after buying an additional 8,992 shares in the last quarter. Algert Global LLC lifted its holdings in Lantronix by 49.5% in the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after buying an additional 9,180 shares in the last quarter. American Century Companies Inc. lifted its holdings in Lantronix by 23.6% in the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock worth $135,000 after buying an additional 10,381 shares in the last quarter. Amundi acquired a new position in Lantronix in the 4th quarter worth $42,000. Finally, Ameriprise Financial Inc. lifted its holdings in Lantronix by 5.7% in the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock worth $1,137,000 after buying an additional 14,802 shares in 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.