Insider Buying: Lantronix, Inc. (NASDAQ:LTRX) Director Buys $76,230.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) Director Jason Cohenour acquired 21,000 shares of Lantronix stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $3.63 per share, for a total transaction of $76,230.00. Following the transaction, the director now owns 33,909 shares of the company’s stock, valued at $123,089.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Lantronix Stock Up 0.9 %

Shares of LTRX opened at $3.74 on Thursday. The firm has a market capitalization of $140.36 million, a P/E ratio of -20.75 and a beta of 2.05. Lantronix, Inc. has a 12-month low of $3.08 and a 12-month high of $6.95. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $3.52 and a 200-day moving average price of $4.73.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Lantronix had a negative return on equity of 8.47% and a negative net margin of 4.48%. The business had revenue of $37.04 million during the quarter, compared to analysts’ expectations of $37.20 million. Equities research analysts expect that Lantronix, Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on LTRX. Roth Mkm reiterated a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research report on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Lantronix in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Craig Hallum reduced their price target on shares of Lantronix from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Lake Street Capital reduced their price target on shares of Lantronix from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $8.50.

Institutional Trading of Lantronix

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Lantronix in the first quarter worth about $55,000. Essex Investment Management Co. LLC raised its holdings in Lantronix by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 6,171 shares in the last quarter. Wasatch Advisors LP raised its holdings in Lantronix by 11.4% in the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after purchasing an additional 165,711 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Lantronix in the fourth quarter worth about $148,000. Finally, First Eagle Investment Management LLC raised its holdings in Lantronix by 4.8% in the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after purchasing an additional 24,250 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.