Lantronix’s (LTRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Lantronix (NASDAQ:LTRX) in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $11.00 price target on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. JonesTrading began coverage on shares of Lantronix in a research note on Wednesday, July 15th. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lantronix in a research report on Friday, July 17th. Canaccord Genuity Group lifted their price objective 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. Wall Street Zen downgraded Lantronix from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, UBS Group reissued a “buy” rating on shares of Lantronix in a report on Friday, June 12th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lantronix currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Lantronix Price Performance

Shares of NASDAQ LTRX opened at $5.37 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.80. The business has a 50-day moving average of $5.71 and a 200-day moving average of $6.04. The stock has a market capitalization of $236.17 million, a price-to-earnings ratio of -48.82 and a beta of 1.70. Lantronix has a fifty-two week low of $4.37 and a fifty-two week high of $8.75.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $31.15 million during the quarter, compared to analysts’ expectations of $30.69 million. Lantronix had a negative return on equity of 5.62% and a negative net margin of 3.46%.Lantronix has set its Q1 2027 guidance at 0.040-0.060 EPS. As a group, sell-side analysts predict that Lantronix will post 0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. acquired a new stake in shares of Lantronix in the second quarter valued at approximately $7,350,000. Globeflex Capital L P bought a new position in Lantronix during the 2nd quarter worth $76,000. Bank of New York Mellon Corp bought a new position in Lantronix during the 2nd quarter worth $937,000. Bank of America Corp DE raised its holdings in Lantronix by 210.7% in the 1st quarter. Bank of America Corp DE now owns 38,589 shares of the technology company’s stock valued at $202,000 after acquiring an additional 26,170 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Lantronix by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 690,194 shares of the technology company’s stock valued at $3,617,000 after acquiring an additional 56,000 shares in 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.