Insider Buying: Lantronix, Inc. (NASDAQ:LTRX) Director Purchases $11,650.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) Director Narbeh Derhacobian acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $2.33 per share, for a total transaction of $11,650.00. Following the completion of the transaction, the director now owns 24,799 shares in the company, valued at $57,781.67. The trade was a 25.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lantronix Stock Up 3.1%

Lantronix stock opened at $2.34 on Friday. The stock has a market cap of $91.00 million, a price-to-earnings ratio of -18.00 and a beta of 1.49. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $2.29 and its two-hundred day moving average price is $3.00. Lantronix, Inc. has a 52 week low of $1.91 and a 52 week high of $4.55.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. On average, analysts expect that Lantronix, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LTRX shares. Needham & Company LLC lowered their target price on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, May 12th. StockNews.com cut shares of Lantronix from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Lake Street Capital lowered their target price on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Canaccord Genuity Group lowered their target price on shares of Lantronix from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.13.

Hedge Funds Weigh In On Lantronix

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Lantronix by 23.6% in the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock worth $135,000 after purchasing an additional 10,381 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Lantronix in the 1st quarter worth approximately $3,486,000. AMH Equity Ltd acquired a new position in shares of Lantronix in the 1st quarter worth approximately $500,000. Jefferies Financial Group Inc. grew its stake in shares of Lantronix by 153.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 82,500 shares of the technology company’s stock worth $340,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Lantronix in the 4th quarter worth approximately $95,000. 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.