StockNews.com Upgrades Lantronix (NASDAQ:LTRX) to “Strong-Buy”

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

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a buy rating and issued a $7.00 target price on shares of Lantronix in a research note on Friday, September 6th. Roth Mkm reiterated a buy rating and issued a $9.00 price objective on shares of Lantronix in a research report on Monday, June 17th. Finally, Canaccord Genuity Group assumed coverage on shares of Lantronix in a report on Wednesday, September 11th. They issued a buy rating and a $7.50 target price on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $7.30.

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $4.16 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16. The stock has a market cap of $156.33 million, a PE ratio of -23.11 and a beta of 2.12. The company’s fifty day moving average is $3.77 and its 200 day moving average is $3.66. Lantronix has a 52 week low of $3.08 and a 52 week high of $6.95.

Insiders Place Their Bets

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the business’s stock in a transaction that occurred on 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 directly owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 64,014 shares of company stock worth $267,136. 17.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP boosted its position in 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 acquiring an additional 165,711 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Lantronix by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after purchasing an additional 131,476 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 159,671 shares during the period. Herald Investment Management Ltd raised its holdings in Lantronix by 17.6% in the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after purchasing an additional 150,000 shares in the last quarter. Finally, AWM Investment Company Inc. lifted its position in Lantronix by 29.8% during the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after buying an additional 227,374 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.