Lantronix (NASDAQ:LTRX) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Lantronix designs, develops and markets products that enable almost any electronic device to be controlled, configured or reprogrammed over the Internet and/or intranets. The company’s products connect these electronic devices to the Internet and/or intranets by using the infrastructure already in place to connect businesses and homes to the Internet, including fiber optic, Ethernet and wireless connections. Its primary products that connect electronic devices are its Device Servers and Multiport Device Servers. “

Separately, ValuEngine lowered shares of Lantronix from a buy rating to a hold rating in a research report on Tuesday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lantronix presently has a consensus rating of Buy and a consensus target price of $5.50.

Shares of NASDAQ:LTRX opened at $4.54 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.14 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $129.80 million, a PE ratio of -14.19 and a beta of 2.02. Lantronix has a twelve month low of $1.58 and a twelve month high of $5.48. The company has a 50-day moving average price of $4.64 and a two-hundred day moving average price of $4.52.

Lantronix (NASDAQ:LTRX) last issued its earnings results on Thursday, November 12th. The technology company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.60 million. Lantronix had a negative net margin of 13.33% and a negative return on equity of 0.79%. Analysts anticipate that Lantronix will post -0.01 earnings per share for the current fiscal year.

In other news, Director Paul F. Folino sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $5.06, for a total value of $27,830.00. Following the completion of the transaction, the director now directly owns 25,468 shares in the company, valued at $128,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 26.40% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Lantronix during the third quarter valued at approximately $62,000. Goldman Sachs Group Inc. purchased a new position in shares of Lantronix during the second quarter worth approximately $38,000. Engineers Gate Manager LP purchased a new position in shares of Lantronix during the second quarter worth approximately $37,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Lantronix during the third quarter worth approximately $59,000. Finally, Squarepoint Ops LLC raised its stake in shares of Lantronix by 92.4% during the third quarter. Squarepoint Ops LLC now owns 59,481 shares of the technology company’s stock worth $286,000 after acquiring an additional 28,566 shares in the last quarter. Institutional investors own 13.34% of the company’s stock.

About Lantronix

Lantronix, Inc engages in the provision of software as a service (SaaS), engineering services, and hardware for Edge Computing, the Internet of Things (IoT), and Remote Environment Management (REM). Its products and solutions include IoT, REM and Other. The company was founded by Bernhard Bruscha in June 1989 and is headquartered in Irvine, CA.

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