Insider Buying: Lantronix, Inc. (NASDAQ:LTRX) CEO Buys 10,000 Shares of Stock

Lantronix, Inc. (NASDAQ:LTRX) CEO Saleel Awsare acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $3.66 per share, with a total value of $36,600.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares in the company, valued at $109,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Saleel Awsare also recently made the following trade(s):

• On Tuesday, February 13th, Saleel Awsare bought 20,000 shares of Lantronix stock. The shares were acquired at an average price of $3.91 per share, with a total value of $78,200.00.

Lantronix Stock Up 0.9 %

LTRX stock opened at $3.74 on Thursday. The stock’s 50 day moving average is $3.52 and its 200-day moving average is $4.73. Lantronix, Inc. has a twelve month low of $3.08 and a twelve month high of $6.95. The firm has a market capitalization of $140.36 million, a PE ratio of -20.75 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 posted 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 analysts’ expectations of $37.20 million. Lantronix had a negative return on equity of 8.47% and a negative net margin of 4.48%. Sell-side analysts expect that Lantronix, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on LTRX shares. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Lantronix in a research note on Tuesday, April 30th. Lake Street Capital cut their price target on Lantronix from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Craig Hallum dropped their target price on shares of 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 upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of Lantronix in a research note on Tuesday, April 30th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.50.

Hedge Funds Weigh In On Lantronix

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Lantronix in the 1st quarter worth $55,000. Essex Investment Management Co. LLC grew its holdings in shares of Lantronix by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 6,171 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Lantronix by 11.4% during the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after purchasing an additional 165,711 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Lantronix during the 4th quarter valued at $148,000. Finally, First Eagle Investment Management LLC boosted its position in Lantronix by 4.8% during the 4th quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock valued at $3,125,000 after buying an additional 24,250 shares during the period. Hedge funds and other institutional investors 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.