Lantronix, Inc. (NASDAQ:LTRX) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Lantronix, Inc. (NASDAQ:LTRX) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.80.

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Lantronix in a report on Thursday, August 27th. Wall Street Zen raised shares of Lantronix from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Lake Street Capital boosted their target price on shares of Lantronix from $8.00 to $10.00 and gave the company a “buy” rating in a report on Friday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lantronix in a research note on Thursday, October 15th. Finally, JonesTrading began coverage on Lantronix in a research note on Wednesday, July 15th. They issued a “buy” rating and a $12.00 target price on the stock.

Trending Headlines about Lantronix

Here are the key news stories impacting Lantronix this week:

• Positive Sentiment: Lantronix reported quarterly earnings of $0.05 per share, above the $0.04 consensus estimate. Revenue was $32.37 million, also topping expectations of $31.98 million. Zacks earnings report
• Positive Sentiment: Revenue rose 8.6% year over year to about $32.4 million, while gross profit increased 8.7% to $14.5 million, indicating continued sales growth. Quiver Quantitative earnings report
• Negative Sentiment: Profitability and cash generation were weak: Lantronix posted a $558,000 operating loss, a $463,000 net loss, and negative operating cash flow of $2.5 million. Cash and equivalents totaled $37.6 million at quarter-end. Company earnings release

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average cost of $5.18 per share, with a total value of $77,700.00. Following the transaction, the chief executive officer owned 453,381 shares of the company’s stock, valued at $2,348,513.58. This trade represents a 3.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP boosted its position in Lantronix by 19.1% in the 3rd quarter. Royce & Associates LP now owns 1,448,513 shares of the technology company’s stock valued at $10,444,000 after buying an additional 232,427 shares during the period. StoneX Group Inc. bought a new position in Lantronix in the third quarter worth about $89,000. State of Wyoming increased its position in shares of Lantronix by 84.0% during the third quarter. State of Wyoming now owns 42,537 shares of the technology company’s stock worth $307,000 after purchasing an additional 19,420 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Lantronix by 59.4% in the 2nd quarter. WINTON GROUP Ltd now owns 82,148 shares of the technology company’s stock worth $483,000 after purchasing an additional 30,626 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Lantronix by 215.5% during the 2nd quarter. Squarepoint Ops LLC now owns 254,886 shares of the technology company’s stock worth $1,499,000 after acquiring an additional 174,086 shares during the period. Institutional investors own 39.38% of the company’s stock.

Lantronix Stock Performance

Lantronix stock opened at $5.45 on Thursday. Lantronix has a one year low of $4.40 and a one year high of $8.75. The firm has a 50-day moving average of $6.01 and a 200-day moving average of $6.07.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Monday, November 9th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Lantronix had a negative net margin of 3.46% and a negative return on equity of 4.88%. The business had revenue of $32.37 million for the quarter, compared to analyst estimates of $31.98 million. Analysts forecast that Lantronix will post 0.10 EPS for the current year.

Lantronix Company Profile

Lantronix, Inc (NASDAQ: LTRX) is a provider of Internet of Things (IoT) and edge-computing solutions that help organizations connect, manage, and secure devices and equipment. The company serves customers in industrial, enterprise, transportation, healthcare, smart-city, and other applications where reliable remote connectivity and device management are required.

Its portfolio includes embedded networking modules, industrial and cellular gateways, routers, out-of-band management products, and software for remotely provisioning, monitoring, and managing connected devices.