Separately, Needham & Company LLC reissued a “buy” rating and set a $4.25 target price on shares of Lantronix in a report on Sunday, January 19th.
Shares of NASDAQ LTRX opened at $3.36 on Friday. The stock has a 50 day simple moving average of $3.84 and a 200-day simple moving average of $3.51. The company has a market cap of $77.49 million, a PE ratio of -28.00 and a beta of 0.78. Lantronix has a 12-month low of $2.34 and a 12-month high of $4.42.
Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Lantronix had a positive return on equity of 2.58% and a negative net margin of 5.90%. The business had revenue of $13.23 million for the quarter. As a group, equities research analysts forecast that Lantronix will post 0.22 earnings per share for the current year.
In related news, Director Paul F. Folino sold 19,926 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $3.29, for a total transaction of $65,556.54. In the last three months, insiders have sold 24,926 shares of company stock worth $82,208. 40.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in LTRX. Wedbush Securities Inc. raised its holdings in Lantronix by 80.0% during the third quarter. Wedbush Securities Inc. now owns 18,000 shares of the technology company’s stock worth $60,000 after purchasing an additional 8,000 shares in the last quarter. BlackRock Inc. raised its holdings in Lantronix by 6.3% during the second quarter. BlackRock Inc. now owns 139,656 shares of the technology company’s stock worth $465,000 after purchasing an additional 8,238 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in Lantronix by 16.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 516,073 shares of the technology company’s stock worth $1,832,000 after purchasing an additional 73,745 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Lantronix by 2.9% during the fourth quarter. Renaissance Technologies LLC now owns 572,564 shares of the technology company’s stock worth $2,033,000 after purchasing an additional 16,300 shares in the last quarter. 16.94% of the stock is currently owned by hedge funds and other institutional investors.
Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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