Lantronix, Inc. (NASDAQ:LTRX) CEO Buys $212,800.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) CEO Saleel Awsare bought 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the transaction, the chief executive officer now owns 233,184 shares in the company, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lantronix Stock Performance

LTRX opened at $2.82 on Friday. Lantronix, Inc. has a 12-month low of $2.48 and a 12-month high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. The business’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $3.76.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. The business had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. As a group, sell-side analysts expect that Lantronix, Inc. will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Lantronix

A number of hedge funds have recently made changes to their positions in LTRX. ProShare Advisors LLC purchased a new stake in shares of Lantronix during the 2nd quarter worth $42,000. Mackenzie Financial Corp purchased a new stake in Lantronix in the second quarter valued at about $50,000. SG Americas Securities LLC purchased a new stake in Lantronix in the first quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lantronix in the third quarter valued at about $60,000. Finally, American Century Companies Inc. raised its stake in Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after buying an additional 5,693 shares during the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Needham & Company LLC cut their price objective on Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday. Canaccord Genuity Group cut their price objective on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.50.

About Lantronix

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.