Lantronix (NASDAQ:LTRX) Stock Rating Lowered by Wall Street Zen

Lantronix (NASDAQ:LTRX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lantronix in a research report on Thursday, October 15th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Lantronix in a research report on Thursday, August 27th. Canaccord Genuity Group dropped their price target on Lantronix from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research cut shares of Lantronix from a “hold” rating to a “strong sell” rating in a research report on Monday, November 9th. Finally, Lake Street Capital upped their price objective on shares of Lantronix from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Lantronix currently has an average rating of “Moderate Buy” and a consensus price target of $10.70.

Lantronix Stock Down 3.3%

NASDAQ LTRX opened at $4.33 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.86 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $5.95 and a 200-day moving average of $6.03. Lantronix has a 1-year low of $4.31 and a 1-year high of $8.75.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Monday, November 9th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Lantronix had a negative return on equity of 3.35% and a negative net margin of 2.63%. The business had revenue of $32.37 million for the quarter, compared to the consensus estimate of $31.98 million. As a group, equities research analysts expect that Lantronix will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at Lantronix

In other Lantronix news, CEO Saleel Awsare bought 15,000 shares of Lantronix stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $5.18 per share, with a total value of $77,700.00. Following the acquisition, the chief executive officer owned 453,381 shares in the company, valued at $2,348,513.58. This trade represents a 3.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Lantronix

Several institutional investors and hedge funds have recently modified their holdings of LTRX. Teton Advisors LLC boosted its stake in Lantronix by 18.4% in the third quarter. Teton Advisors LLC now owns 90,000 shares of the technology company’s stock valued at $649,000 after buying an additional 14,000 shares in the last quarter. Gabelli Funds LLC grew its position in Lantronix by 45.8% in the third quarter. Gabelli Funds LLC now owns 35,000 shares of the technology company’s stock valued at $252,000 after acquiring an additional 11,000 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Lantronix during the third quarter worth about $6,889,000. Royce & Associates LP raised its stake in Lantronix by 19.1% during the third quarter. Royce & Associates LP now owns 1,448,513 shares of the technology company’s stock worth $10,444,000 after acquiring an additional 232,427 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in Lantronix during the third quarter worth about $89,000. 39.38% of the stock is currently owned by institutional investors.

About Lantronix

Lantronix provides secure connectivity, computing and remote-management solutions for the Internet of Things (IoT) and edge computing. Its products and services help businesses connect, monitor and manage devices and equipment across distributed networks. The company’s offerings include embedded computing modules and systems, IoT gateways, device servers, network switches and console-management products. Lantronix also provides software and engineering services to support the design and deployment of connected applications.