Lantronix (NASDAQ:LTRX) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Lantronix (NASDAQ:LTRX) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $7.50 target price on the technology company’s stock.

Several other equities analysts have also issued reports on LTRX. Roth Mkm reaffirmed a buy rating and set a $9.00 price objective on shares of Lantronix in a report on Monday, June 17th. StockNews.com lowered Lantronix from a strong-buy rating to a buy rating in a report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $7.00 price objective on shares of Lantronix in a report on Friday, September 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $7.30.

Lantronix Stock Performance

NASDAQ:LTRX opened at $4.44 on Wednesday. The business’s fifty day moving average price is $3.74 and its 200 day moving average price is $3.66. The firm has a market capitalization of $168.28 million, a PE ratio of -24.67 and a beta of 2.12. Lantronix has a 12 month low of $3.08 and a 12 month high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 1.32.

Insider Buying and Selling

In related news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.32, for a total transaction of $136,641.60. Following the transaction, the insider now owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 64,014 shares of company stock valued at $267,136 over the last quarter. 17.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC acquired a new stake in Lantronix in the second quarter valued at about $42,000. Mackenzie Financial Corp acquired a new stake in Lantronix in the second quarter valued at about $50,000. SG Americas Securities LLC acquired a new stake in Lantronix in the first quarter valued at about $55,000. American Century Companies Inc. lifted its position in Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after purchasing an additional 5,693 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in Lantronix in the fourth quarter valued at about $148,000. 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.