Lantronix (NASDAQ:LTRX) announced its earnings results on Tuesday. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03), Morningstar.com reports. The company had revenue of $10.15 million during the quarter. Lantronix had a net margin of 3.70% and a return on equity of 8.19%. Lantronix updated its Q1 2020 guidance to $-0.03-0.00 EPS and its FY 2020 guidance to $0.21 EPS.
Shares of LTRX stock traded down $0.37 during mid-day trading on Wednesday, hitting $3.42. The stock had a trading volume of 23 shares, compared to its average volume of 54,682. Lantronix has a fifty-two week low of $2.34 and a fifty-two week high of $5.94. The firm has a market cap of $82.43 million, a PE ratio of 28.23 and a beta of 0.79. The company’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $3.32.
Several institutional investors have recently modified their holdings of LTRX. Cadence Capital Management LLC increased its stake in shares of Lantronix by 1.8% during the first quarter. Cadence Capital Management LLC now owns 477,348 shares of the technology company’s stock worth $1,442,000 after acquiring an additional 8,404 shares during the period. Acadian Asset Management LLC grew its stake in Lantronix by 22.9% in the 1st quarter. Acadian Asset Management LLC now owns 240,860 shares of the technology company’s stock valued at $727,000 after acquiring an additional 44,894 shares during the last quarter. Alambic Investment Management L.P. increased its holdings in Lantronix by 37.2% during the 1st quarter. Alambic Investment Management L.P. now owns 18,163 shares of the technology company’s stock valued at $55,000 after acquiring an additional 4,923 shares in the last quarter. Wedbush Securities Inc. purchased a new position in Lantronix during the 2nd quarter valued at about $33,000. Finally, LPL Financial LLC purchased a new position in Lantronix during the 2nd quarter valued at about $266,000. Institutional investors and hedge funds own 19.77% of the company’s stock.
Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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