Lantronix (NASDAQ:LTRX) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Lantronix (NASDAQ:LTRX) from a buy rating to a strong-buy rating in a report published on Wednesday.

LTRX has been the subject of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $7.00 price objective on shares of Lantronix in a report on Friday, September 6th. Canaccord Genuity Group started coverage on shares of Lantronix in a research note on Wednesday, September 11th. They set a buy rating and a $7.50 price target for the company. Finally, Roth Mkm restated a buy rating and set a $9.00 price objective on shares of Lantronix in a report on Monday, June 17th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $7.30.

Lantronix Price Performance

LTRX opened at $4.16 on Wednesday. The business has a fifty day moving average of $3.77 and a 200 day moving average of $3.66. The stock has a market cap of $156.33 million, a P/E ratio of -23.11 and a beta of 2.12. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16. Lantronix has a 52-week low of $3.08 and a 52-week high of $6.95.

Insider Buying and Selling

In other Lantronix news, major shareholder Bernhard Bruscha sold 23,949 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $4.04, for a total value of $96,753.96. Following the completion of the transaction, the insider now directly owns 5,381,471 shares of the company’s stock, valued at $21,741,142.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 64,014 shares of company stock worth $267,136. 17.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC purchased a new position in Lantronix during the 2nd quarter worth approximately $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the 2nd quarter valued at $50,000. SG Americas Securities LLC acquired a new stake in Lantronix during the 1st quarter worth $55,000. American Century Companies Inc. grew 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 purchasing an additional 5,693 shares during the last quarter. Finally, Jump Financial LLC increased its stake in Lantronix by 115.4% in the fourth quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after purchasing an additional 17,138 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

About Lantronix

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.