Lantronix (NASDAQ:LTRX) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a research report report published on Saturday morning.

LTRX has been the subject of a number of other research reports. Canaccord Genuity Group upped their price objective on shares of Lantronix from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lantronix in a research report on Friday, July 17th. UBS Group restated a “buy” rating on shares of Lantronix in a report on Friday, June 12th. JonesTrading started coverage on shares of Lantronix in a research report on Wednesday, July 15th. They set a “buy” rating and a $12.00 price target for the company. Finally, Needham & Company LLC started coverage on shares of Lantronix in a research note on Friday, June 12th. They set a “buy” rating and a $11.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Lantronix Stock Performance

NASDAQ LTRX opened at $5.73 on Friday. The business’s 50-day moving average price is $5.93 and its 200 day moving average price is $6.10. Lantronix has a twelve month low of $2.86 and a twelve month high of $8.75. The company has a market capitalization of $252.01 million, a PE ratio of -33.71 and a beta of 1.70. The company has a current ratio of 2.74, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of LTRX. Invesco Ltd. acquired a new stake in Lantronix during the 4th quarter worth approximately $68,000. Balyasny Asset Management L.P. acquired a new position in Lantronix during the fourth quarter valued at approximately $86,000. Jefferies Financial Group Inc. acquired a new position in Lantronix during the fourth quarter valued at approximately $95,000. R Squared Ltd grew its stake in Lantronix by 28.7% during the fourth quarter. R Squared Ltd now owns 18,107 shares of the technology company’s stock worth $106,000 after buying an additional 4,034 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new stake in Lantronix during the third quarter worth approximately $85,000. 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.