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

Lantronix, Inc. (NASDAQ:LTRX) has earned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $6.50.

Several research firms recently commented on LTRX. StockNews.com cut Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reduced their price target on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Canaccord Genuity Group lowered their price objective on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Insider Activity

In other Lantronix news, major shareholder Bernhard Bruscha sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.08, for a total transaction of $81,600.00. Following the completion of the sale, the insider now owns 5,198,971 shares of the company’s stock, valued at approximately $21,211,801.68. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saleel Awsare acquired 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the purchase, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at approximately $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after purchasing an additional 5,693 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Lantronix by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock valued at $1,394,000 after buying an additional 10,413 shares in the last quarter. ProShare Advisors LLC bought a new position in Lantronix in the 2nd quarter worth $42,000. Mackenzie Financial Corp purchased a new stake in Lantronix in the 2nd quarter worth $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Lantronix during the third quarter valued at about $60,000. 39.38% of the stock is currently owned by institutional investors.

Lantronix Stock Performance

Shares of LTRX opened at $4.08 on Thursday. The company has a market cap of $156.98 million, a price-to-earnings ratio of -29.14 and a beta of 2.04. The business’s fifty day simple moving average is $3.43 and its two-hundred day simple moving average is $3.66. Lantronix has a 12 month low of $2.48 and a 12 month high of $6.95. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16.

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.