Insider Buying: Lantronix, Inc. (NASDAQ:LTRX) Director Buys 21,000 Shares of Stock

Lantronix, Inc. (NASDAQ:LTRX) Director Jason Cohenour acquired 21,000 shares of Lantronix stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $3.63 per share, with a total value of $76,230.00. Following the transaction, the director now owns 33,909 shares of the company’s stock, valued at approximately $123,089.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lantronix Stock Performance

Shares of NASDAQ LTRX traded up $0.26 during midday trading on Monday, reaching $3.90. 249,700 shares of the stock were exchanged, compared to its average volume of 307,644. The firm has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $4.74. Lantronix, Inc. has a twelve month low of $3.08 and a twelve month high of $6.95. The firm has a market cap of $146.56 million, a price-to-earnings ratio of -22.11 and a beta of 2.05. The company has a quick ratio of 1.32, a current ratio of 2.25 and a debt-to-equity ratio of 0.18.

Lantronix (NASDAQ:LTRX) last announced its 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). The business had revenue of $37.04 million for the quarter, compared to analyst estimates of $37.20 million. Lantronix had a negative return on equity of 8.47% and a negative net margin of 4.48%. As a group, analysts anticipate that Lantronix, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LTRX has been the topic of several research analyst reports. Craig Hallum lowered their price objective on Lantronix from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Roth Mkm restated a “buy” rating and set a $9.00 target price on shares of Lantronix in a research note on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Lantronix in a report on Tuesday, April 30th. Finally, Lake Street Capital lowered their price target on Lantronix from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lantronix currently has a consensus rating of “Buy” and a consensus target price of $8.50.

Hedge Funds Weigh In On Lantronix

Several institutional investors have recently modified their holdings of LTRX. AMH Equity Ltd grew its stake in Lantronix by 16.0% during the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock worth $7,742,000 after purchasing an additional 182,552 shares in the last quarter. Wasatch Advisors LP raised its stake in Lantronix by 11.4% in the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after buying an additional 165,711 shares in the last quarter. Barclays PLC purchased a new position in shares of Lantronix in the 3rd quarter valued at about $176,000. Hillsdale Investment Management Inc. purchased a new position in Lantronix in the fourth quarter valued at approximately $148,000. Finally, Quadrature Capital Ltd acquired a new stake in Lantronix during the third quarter worth approximately $109,000. Institutional investors and hedge funds 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.