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

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

Lantronix Stock Performance

Shares of LTRX stock opened at $2.70 on Thursday. The company has a market cap of $104.73 million, a price-to-earnings ratio of -20.77 and a beta of 1.94. The stock has a 50 day simple moving average of $3.54 and a 200-day simple moving average of $3.60. 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 data 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%. On average, equities analysts forecast that Lantronix, Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on LTRX shares. Lake Street Capital decreased their price objective on Lantronix from $6.00 to $5.00 and set a “buy” rating for the company in a research report 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. Canaccord Genuity Group cut their target price on Lantronix from $5.00 to $4.50 and set a “buy” rating for the company 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 investment 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.

Hedge Funds Weigh In On Lantronix

Several hedge funds have recently bought and sold shares of LTRX. Amundi purchased a new position in Lantronix in the 4th quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lantronix in the 3rd quarter valued at approximately $60,000. Balyasny Asset Management L.P. purchased a new position in Lantronix in the 4th quarter valued at approximately $79,000. Wolverine Trading LLC purchased a new position in Lantronix in the 4th quarter valued at approximately $95,000. Finally, Algert Global LLC increased its stake in Lantronix by 49.5% in the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock valued at $114,000 after purchasing an additional 9,180 shares in the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.

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.