Lantronix (NASDAQ:LTRX) Issues FY 2022 Earnings Guidance

Lantronix (NASDAQ:LTRX) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.350-$0.450 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.310. The company issued revenue guidance of $103.64 million-$125.09 million, compared to the consensus revenue estimate of $92.40 million.

Lantronix stock opened at $6.05 on Friday. Lantronix has a 1 year low of $4.06 and a 1 year high of $6.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.89 and a quick ratio of 1.23. The stock has a market cap of $176.38 million, a price-to-earnings ratio of -43.21 and a beta of 1.98. The firm has a 50-day moving average of $5.53 and a two-hundred day moving average of $5.23.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Wednesday, August 25th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Lantronix had a negative net margin of 5.66% and a negative return on equity of 8.76%. The business had revenue of $20.64 million during the quarter, compared to analyst estimates of $20.00 million. Research analysts expect that Lantronix will post 0.19 earnings per share for the current year.

Several equities research analysts have recently commented on the stock. Roth Capital boosted their price target on shares of Lantronix from $9.00 to $10.00 and gave the company a buy rating in a report on Friday, August 27th. Needham & Company LLC boosted their price target on shares of Lantronix from $6.50 to $7.00 and gave the company a buy rating in a report on Friday, August 27th.

Several hedge funds and other institutional investors have recently bought and sold shares of LTRX. Millennium Management LLC bought a new position in shares of Lantronix during the 2nd quarter worth approximately $245,000. Citadel Advisors LLC bought a new position in shares of Lantronix during the 2nd quarter worth approximately $108,000. Finally, Morgan Stanley grew its position in Lantronix by 93.2% during the 2nd quarter. Morgan Stanley now owns 10,221 shares of the technology company’s stock worth $53,000 after purchasing an additional 4,930 shares during the last quarter. Hedge funds and other institutional investors own 16.28% 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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