Lantronix (NASDAQ:LTRX) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts also recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Lantronix in a research report on Friday, June 12th. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lantronix in a research note on Friday, July 17th. Canaccord Genuity Group boosted their price target on shares of Lantronix from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. UBS Group reaffirmed a “buy” rating on shares of Lantronix in a report on Friday, June 12th. Finally, JonesTrading started coverage on Lantronix in a research report on Wednesday, July 15th. They set a “buy” rating and a $12.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lantronix presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Lantronix Trading Up 2.4%

NASDAQ:LTRX opened at $5.97 on Friday. The stock has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $6.11. The stock has a market cap of $262.56 million, a P/E ratio of -35.12 and a beta of 1.70. Lantronix has a 1 year low of $2.86 and a 1 year high of $8.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 2.74.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $30.18 million for the quarter, compared to analysts’ expectations of $30.49 million. Lantronix had a negative return on equity of 6.79% and a negative net margin of 5.52%. As a group, analysts anticipate that Lantronix will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in Lantronix by 19.7% in the first quarter. Jane Street Group LLC now owns 71,293 shares of the technology company’s stock valued at $178,000 after purchasing an additional 11,728 shares during the period. XTX Topco Ltd acquired a new stake in shares of Lantronix during the second quarter worth about $86,000. Marshall Wace LLP boosted its stake in shares of Lantronix by 10.6% during the second quarter. Marshall Wace LLP now owns 446,164 shares of the technology company’s stock worth $1,280,000 after buying an additional 42,838 shares during the period. Manatuck Hill Partners LLC purchased a new position in shares of Lantronix during the second quarter worth about $302,000. Finally, Vanguard Group Inc. increased its position in Lantronix by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,486,791 shares of the technology company’s stock valued at $6,795,000 after acquiring an additional 40,890 shares during the period. 39.38% of the stock is owned by hedge funds and other institutional investors.

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.