Lantronix (NASDAQ:LTRX) Receives “Buy” Rating from Needham & Company LLC

Lantronix (NASDAQ:LTRX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $5.50 price target on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 56.70% from the stock’s current price.

A number of other equities analysts have also weighed in on LTRX. StockNews.com lowered shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group decreased their price target on Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.50.

Lantronix Stock Down 0.8 %

NASDAQ:LTRX opened at $3.51 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. The firm has a market cap of $135.03 million, a P/E ratio of -25.07 and a beta of 1.94. Lantronix has a fifty-two week low of $2.48 and a fifty-two week high of $6.90. The firm has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $3.69.

Insider Buying and Selling

In other Lantronix news, Director Hoshi Printer purchased 15,000 shares of Lantronix stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average price of $2.90 per share, with a total value of $43,500.00. Following the transaction, the director now directly owns 176,075 shares of the company’s stock, valued at $510,617.50. This trade represents a 9.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saleel Awsare acquired 80,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the purchase, the chief executive officer now directly owns 233,184 shares in the company, valued at approximately $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Lantronix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC purchased a new position in shares of Lantronix during the 2nd quarter worth $42,000. Mackenzie Financial Corp bought a new position in Lantronix in the 2nd quarter worth $50,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Lantronix in the 3rd quarter worth $60,000. American Century Companies Inc. lifted its position in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after purchasing an additional 5,693 shares in the last quarter. Finally, Barclays PLC grew its holdings in Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after purchasing an additional 43,770 shares during the period. 39.38% of the stock is owned by hedge funds and other institutional investors.

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.