Lantronix (NASDAQ:LTRX) Rating Increased to Strong-Buy at StockNews.com

Lantronix (NASDAQ:LTRX) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

LTRX has been the topic of several other reports. Canaccord Genuity Group assumed coverage on Lantronix in a research report on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $9.00 price target on shares of Lantronix in a report on Monday, June 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Lantronix in a research note on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $7.30.

Lantronix Stock Up 2.4 %

Shares of LTRX stock opened at $3.89 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 2.03. Lantronix has a one year low of $3.08 and a one year high of $6.95. The company’s fifty day moving average price is $3.76 and its 200-day moving average price is $3.66. The company has a market capitalization of $146.19 million, a price-to-earnings ratio of -21.61 and a beta of 2.12.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 8,435 shares of Lantronix stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total value of $33,740.00. Following the completion of the transaction, the insider now owns 5,373,036 shares in the company, valued at approximately $21,492,144. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 64,014 shares of company stock worth $267,136 over the last ninety days. Company insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Several institutional investors have recently made changes to their positions in LTRX. Mackenzie Financial Corp bought a new position in Lantronix during the 2nd quarter valued at about $50,000. Marshall Wace LLP grew its stake in shares of Lantronix by 260.2% during the second quarter. Marshall Wace LLP now owns 160,270 shares of the technology company’s stock valued at $569,000 after buying an additional 115,772 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Lantronix in the second quarter worth approximately $42,000. XTX Topco Ltd lifted its stake in shares of Lantronix by 217.7% during the 2nd quarter. XTX Topco Ltd now owns 149,855 shares of the technology company’s stock worth $532,000 after acquiring an additional 102,688 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after acquiring an additional 336,781 shares during the period. Institutional investors own 39.38% of the company’s stock.

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.