Lantronix, Inc. (NASDAQ:LTRX) CEO Acquires $37,950.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) CEO Saleel Awsare acquired 15,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $2.53 per share, for a total transaction of $37,950.00. Following the purchase, the chief executive officer now directly owns 253,380 shares of the company’s stock, valued at approximately $641,051.40. This trade represents a 6.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lantronix Stock Down 1.6 %

Shares of LTRX opened at $2.52 on Tuesday. The business’s 50 day moving average is $3.59 and its 200 day moving average is $3.61. The company has a market capitalization of $97.75 million, a PE ratio of -19.38 and a beta of 1.94. Lantronix, Inc. has a 12-month low of $2.48 and a 12-month high of $4.55. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.62%. Research analysts expect that Lantronix, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LTRX. Canaccord Genuity Group decreased their price objective on Lantronix from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Lake Street Capital decreased their target price on Lantronix from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.50 target price on shares of Lantronix in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.00.

Hedge Funds Weigh In On Lantronix

Several institutional investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its holdings in Lantronix by 153.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 82,500 shares of the technology company’s stock valued at $340,000 after buying an additional 50,000 shares in the last quarter. Wolverine Trading LLC purchased a new position in Lantronix during the 4th quarter valued at approximately $95,000. Balyasny Asset Management L.P. purchased a new position in Lantronix during the 4th quarter valued at approximately $79,000. Ameriprise Financial Inc. grew its holdings in Lantronix by 5.7% during the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock valued at $1,137,000 after buying an additional 14,802 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Lantronix by 49.5% in the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after purchasing an additional 9,180 shares during the period. 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.