Lantronix (NASDAQ:LTRX) Given “Buy” Rating at Needham & Company LLC

Lantronix (NASDAQ:LTRX)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $7.00 price objective on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 102.31% from the stock’s current price.

Several other research analysts have also recently weighed in on LTRX. Roth Mkm reiterated a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research report on Tuesday. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.20.

Lantronix Stock Up 5.8 %

Shares of LTRX opened at $3.46 on Tuesday. The firm has a market cap of $129.68 million, a P/E ratio of -13.84 and a beta of 2.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.08. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95. The firm’s 50-day simple moving average is $3.57 and its 200 day simple moving average is $4.77.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $37.04 million for the quarter, compared to the consensus estimate of $37.20 million. Lantronix had a negative return on equity of 11.89% and a negative net margin of 6.67%. On average, analysts forecast that Lantronix will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Saleel Awsare bought 20,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $3.91 per share, with a total value of $78,200.00. Following the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $78,200. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Philip G. Brace acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $59,250.00. Following the completion of the acquisition, the director now owns 27,000 shares of the company’s stock, valued at $106,650. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Saleel Awsare bought 20,000 shares of Lantronix stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $3.91 per share, with a total value of $78,200.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares in the company, valued at $78,200. The disclosure for this purchase can be found here. Company insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

Several hedge funds have recently bought and sold shares of the business. Citigroup Inc. acquired a new position in Lantronix during the third quarter worth $35,000. Algert Global LLC bought a new position in Lantronix in the 3rd quarter valued at about $50,000. Jump Financial LLC acquired a new position in Lantronix during the 3rd quarter valued at about $66,000. Quadrature Capital Ltd bought a new stake in Lantronix during the 3rd quarter worth approximately $109,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Lantronix in the fourth quarter worth approximately $148,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

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.