Lantronix (NASDAQ:LTRX) Receives Buy Rating from Needham & Company LLC

Lantronix (NASDAQ:LTRX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $7.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 110.21% from the stock’s previous close.

A number of other brokerages have also recently issued reports on LTRX. Roth Mkm reiterated a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research note on Monday, June 17th. StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lantronix currently has a consensus rating of “Buy” and a consensus target price of $8.50.

Lantronix Trading Down 3.5 %

NASDAQ:LTRX opened at $3.33 on Friday. Lantronix has a twelve month low of $3.08 and a twelve month high of $6.95. The company has a quick ratio of 1.32, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $3.67 and a two-hundred day moving average price of $3.66. The company has a market cap of $125.14 million, a P/E ratio of -18.50 and a beta of 2.13.

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 23,949 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $4.04, for a total transaction of $96,753.96. Following the transaction, the insider now owns 5,381,471 shares in the company, valued at approximately $21,741,142.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Large investors have recently modified their holdings of the business. ProShare Advisors LLC acquired a new stake in Lantronix in the second quarter valued at about $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the second quarter valued at approximately $50,000. SG Americas Securities LLC bought a new position in Lantronix in the 1st quarter valued at approximately $55,000. American Century Companies Inc. boosted its position in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after buying an additional 5,693 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in Lantronix during the 4th quarter worth approximately $148,000. 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.