Canaccord Genuity Group Upgrades Lantronix (NASDAQ:LTRX) to “Strong-Buy”

Lantronix (NASDAQ:LTRX) was upgraded by equities research analysts at Canaccord Genuity Group to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on LTRX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lantronix in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lantronix currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Lantronix Price Performance

LTRX opened at $6.72 on Monday. The company has a 50-day moving average of $6.37 and a 200-day moving average of $6.09. The company has a market capitalization of $295.55 million, a P/E ratio of -39.53 and a beta of 1.64. Lantronix has a 1-year low of $2.28 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 2.74.

Lantronix (NASDAQ:LTRX) last released its earnings results on Wednesday, May 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $30.18 million during the quarter, compared to the consensus estimate of $30.49 million. Lantronix had a negative return on equity of 6.79% and a negative net margin of 5.52%.Lantronix has set its Q4 2026 guidance at 0.030-0.050 EPS. Equities analysts expect that Lantronix will post -0.11 EPS for the current fiscal year.

Insider Transactions at Lantronix

In other Lantronix news, insider Mathi Gurusamy sold 14,467 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.21, for a total transaction of $89,840.07. Following the completion of the transaction, the insider directly owned 55,569 shares of the company’s stock, valued at $345,083.49. The trade was a 20.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Lantronix by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,486,791 shares of the technology company’s stock valued at $6,795,000 after purchasing an additional 40,890 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Lantronix by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company’s stock valued at $4,952,000 after purchasing an additional 275,842 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Lantronix by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 690,194 shares of the technology company’s stock worth $3,617,000 after acquiring an additional 56,000 shares during the period. Marshall Wace LLP lifted its stake in shares of Lantronix by 9.7% in the 4th quarter. Marshall Wace LLP now owns 678,929 shares of the technology company’s stock worth $3,979,000 after acquiring an additional 59,866 shares during the period. Finally, Soviero Asset Management LP lifted its stake in shares of Lantronix by 11.8% in the 4th quarter. Soviero Asset Management LP now owns 570,000 shares of the technology company’s stock worth $3,340,000 after acquiring an additional 60,000 shares during the period. 39.38% of the stock is owned by institutional investors and hedge funds.

About Lantronix

Lantronix, Inc is a provider of secure data access and management solutions designed to simplify the deployment, monitoring and control of devices and equipment across a wide range of industries. Headquartered in Irvine, California, the company develops hardware and software products that enable connectivity for smart devices, industrial machinery, IT infrastructure and other systems in the Internet of Things (IoT) ecosystem.

Founded in 1989, Lantronix was among the early innovators in serial-to-Ethernet device networking and has since expanded its portfolio to include secure console servers, device servers, gateways and embedded modules.