Lantronix, Inc. (NASDAQ:LTRX) Director Purchases $50,800.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) Director Kevin S. Palatnik bought 20,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $2.54 per share, with a total value of $50,800.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $50,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Lantronix Price Performance

Shares of NASDAQ:LTRX opened at $2.52 on Tuesday. The company has a 50 day moving average of $3.56 and a 200 day moving average of $3.60. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15. The stock has a market cap of $97.75 million, a P/E 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.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. As a group, sell-side analysts forecast that Lantronix, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Lantronix

Several hedge funds have recently added to or reduced their stakes in LTRX. Jefferies Financial Group Inc. raised its holdings in shares of 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 stake in shares of Lantronix in the 4th quarter valued at $95,000. Balyasny Asset Management L.P. purchased a new position in shares of Lantronix in the fourth quarter worth about $79,000. Ameriprise Financial Inc. boosted 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 acquiring an additional 14,802 shares during the period. Finally, Algert Global LLC grew its position in Lantronix by 49.5% during the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock worth $114,000 after acquiring an additional 9,180 shares during the last quarter. 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.