Saleel Awsare Buys 80,000 Shares of Lantronix, Inc. (NASDAQ:LTRX) Stock

Lantronix, Inc. (NASDAQ:LTRX) CEO Saleel Awsare bought 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $212,800.00. Following the completion of the acquisition, the chief executive officer now owns 233,184 shares in the company, valued at approximately $620,269.44. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Lantronix Trading Up 4.7 %

NASDAQ:LTRX traded up $0.12 on Wednesday, reaching $2.66. 833,004 shares of the company’s stock were exchanged, compared to its average volume of 294,402. The business has a fifty day moving average of $3.88 and a 200-day moving average of $3.76. The company has a quick ratio of 2.03, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. Lantronix, Inc. has a 52-week low of $2.48 and a 52-week high of $6.95. The firm has a market capitalization of $102.33 million, a price-to-earnings ratio of -19.00 and a beta of 2.14.

Lantronix (NASDAQ:LTRX) last released its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The firm had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. As a group, analysts expect that Lantronix, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Lantronix

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Lantronix by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after acquiring an additional 131,476 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Lantronix by 18.5% during 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 lifted 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 valued at $3,550,000 after acquiring an additional 150,000 shares during the period. AWM Investment Company Inc. lifted its holdings in Lantronix by 29.8% in the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock valued at $3,522,000 after acquiring an additional 227,374 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Lantronix by 65.0% in the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after acquiring an additional 336,781 shares during the period. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LTRX has been the subject of several recent research reports. Canaccord Genuity Group cut their target price on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com lowered shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Needham & Company LLC lowered their price target on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.50.

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.