Lantronix (NASDAQ:LTRX) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Lantronix (NASDAQ:LTRX) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $7.50 price target on the technology company’s stock.

Several other equities research analysts have also commented on LTRX. StockNews.com lowered Lantronix from a strong-buy rating to a buy rating in a research note on Tuesday. Needham & Company LLC restated a buy rating and set a $7.00 price target on shares of Lantronix in a research note on Friday, September 6th. Finally, Roth Mkm reaffirmed a buy rating and issued a $9.00 target price on shares of Lantronix in a research report on Monday, June 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lantronix has a consensus rating of Buy and an average target price of $7.30.

Lantronix Stock Performance

Shares of NASDAQ:LTRX opened at $4.29 on Wednesday. The firm has a market capitalization of $161.22 million, a PE ratio of -23.50 and a beta of 2.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.25 and a quick ratio of 1.32. The business has a 50-day moving average of $3.69 and a two-hundred day moving average of $3.65. Lantronix has a 12 month low of $3.08 and a 12 month high of $6.95.

Insider Transactions at Lantronix

In related news, major shareholder Bernhard Bruscha sold 23,949 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $4.04, for a total value of $96,753.96. Following the completion of the transaction, the insider now owns 5,381,471 shares of the company’s stock, valued at $21,741,142.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LTRX. Jump Financial LLC boosted its holdings in Lantronix by 115.4% in the fourth quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after purchasing an additional 17,138 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Lantronix by 4.8% in the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock valued at $3,125,000 after purchasing an additional 24,250 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Lantronix in the fourth quarter valued at about $148,000. Wasatch Advisors LP raised its stake in Lantronix by 11.4% during the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after buying an additional 165,711 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in Lantronix by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock valued at $1,439,000 after buying an additional 6,171 shares in the last quarter. 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.