Lantronix (NASDAQ:LTRX) Upgraded to “Moderate Buy” at Needham & Company LLC

Needham & Company LLC upgraded shares of Lantronix (NASDAQ:LTRX) to a moderate buy rating in a report released on Friday morning,Zacks.com reports.

Several other brokerages have also recently commented on LTRX. Wall Street Zen upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Canaccord Genuity Group began coverage on shares of Lantronix in a research note on Monday. They issued a “buy” rating and a $10.50 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lantronix in a research note on Tuesday, April 21st. Finally, UBS Group restated a “buy” rating on shares of Lantronix in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.88.

Lantronix Stock Down 2.5%

Shares of NASDAQ LTRX opened at $6.71 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. Lantronix has a 52 week low of $2.34 and a 52 week high of $8.75. The firm has a 50-day moving average price of $6.48 and a 200 day moving average price of $6.13. The stock has a market capitalization of $295.11 million, a price-to-earnings ratio of -39.47 and a beta of 1.64.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Lantronix had a negative net margin of 5.52% and a negative return on equity of 6.79%. The company had revenue of $30.18 million during the quarter, compared to analyst estimates of $30.49 million. Lantronix has set its Q4 2026 guidance at 0.030-0.050 EPS. Equities research analysts anticipate that Lantronix will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Lantronix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Lantronix by 2.8% during the third quarter. Vanguard Group Inc. now owns 1,486,791 shares of the technology company’s stock worth $6,795,000 after acquiring an additional 40,890 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Lantronix by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company’s stock worth $4,952,000 after acquiring an additional 275,842 shares during the last quarter. Renaissance Technologies LLC raised its position in Lantronix by 8.8% during the first quarter. Renaissance Technologies LLC now owns 690,194 shares of the technology company’s stock worth $3,617,000 after acquiring an additional 56,000 shares during the last quarter. Marshall Wace LLP raised its position in Lantronix by 9.7% during the fourth quarter. Marshall Wace LLP now owns 678,929 shares of the technology company’s stock worth $3,979,000 after acquiring an additional 59,866 shares during the last quarter. Finally, Soviero Asset Management LP raised its position in Lantronix by 11.8% during the fourth quarter. Soviero Asset Management LP now owns 570,000 shares of the technology company’s stock worth $3,340,000 after acquiring an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

About Lantronix

Lantronix, Inc is a provider of secure data access and management solutions designed to simplify the deployment, monitoring and control of devices and equipment across a wide range of industries. Headquartered in Irvine, California, the company develops hardware and software products that enable connectivity for smart devices, industrial machinery, IT infrastructure and other systems in the Internet of Things (IoT) ecosystem.

Founded in 1989, Lantronix was among the early innovators in serial-to-Ethernet device networking and has since expanded its portfolio to include secure console servers, device servers, gateways and embedded modules.