Lantronix (NASDAQ:LTRX) Rating Lowered to Buy at StockNews.com

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

LTRX has been the topic of several other research reports. Canaccord Genuity Group initiated coverage on shares of Lantronix in a research note on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective on the stock. Needham & Company LLC dropped their target price on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $7.00.

Lantronix Trading Down 7.8 %

Lantronix stock traded down $0.22 during midday trading on Monday, hitting $2.60. 2,062,132 shares of the stock were exchanged, compared to its average volume of 288,879. The company has a fifty day simple moving average of $3.91 and a two-hundred day simple moving average of $3.78. Lantronix has a 52 week low of $2.48 and a 52 week high of $6.95. The stock has a market capitalization of $99.06 million, a PE ratio of -18.57 and a beta of 2.14. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The business had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. Equities research analysts anticipate that Lantronix will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Bernhard Bruscha sold 8,435 shares of Lantronix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total value of $33,740.00. Following the sale, the insider now directly owns 5,373,036 shares in the company, valued at $21,492,144. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 85,065 shares of company stock worth $356,232. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Lantronix by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after purchasing an additional 131,476 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after buying an additional 159,671 shares during the last quarter. Herald Investment Management Ltd increased its holdings in Lantronix by 17.6% during the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after buying an additional 150,000 shares during the last quarter. AWM Investment Company Inc. increased its holdings in Lantronix by 29.8% during the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after buying an additional 227,374 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Lantronix by 65.0% during the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after buying an additional 336,781 shares during the last quarter. 39.38% of the stock is currently owned by institutional investors and hedge funds.

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.