Lantronix (LTRX) Scheduled to Post Quarterly Earnings on Monday

Lantronix (NASDAQ:LTRX) will be announcing its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Lantronix has set its FY 2024 guidance at 0.350-0.450 EPS and its Q3 2024 guidance at 0.090-0.130 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). Lantronix had a negative net margin of 6.67% and a negative return on equity of 11.89%. The business had revenue of $37.04 million during the quarter, compared to analyst estimates of $37.20 million. On average, analysts expect Lantronix to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Lantronix Stock Up 2.2 %

Shares of LTRX stock opened at $3.27 on Friday. The firm’s fifty day moving average price is $3.59 and its two-hundred day moving average price is $4.77. Lantronix has a 1 year low of $3.08 and a 1 year high of $6.95. The firm has a market capitalization of $122.56 million, a P/E ratio of -13.08 and a beta of 2.12. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19.

Insider Activity at Lantronix

In related news, major shareholder Bernhard Bruscha sold 9,409 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $6.03, for a total value of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Philip G. Brace purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $3.95 per share, for a total transaction of $59,250.00. Following the purchase, the director now owns 27,000 shares in the company, valued at $106,650. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bernhard Bruscha sold 9,409 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $6.03, for a total transaction of $56,736.27. Following the transaction, the insider now owns 5,406,471 shares in the company, valued at approximately $32,601,020.13. The disclosure for this sale can be found here. 17.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LTRX. Needham & Company LLC decreased their price objective on shares of Lantronix from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, March 12th. Roth Mkm decreased their price objective on shares of Lantronix from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Finally, StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lantronix presently has a consensus rating of “Buy” and a consensus target price of $9.20.

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.