Lantronix (NASDAQ:LTRX) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Lantronix (NASDAQ:LTRX) in a research report report published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $7.50 price target on the technology company’s stock.

A number of other analysts also recently commented on LTRX. Roth Mkm reiterated a buy rating and set a $9.00 target price on shares of Lantronix in a research report on Monday, June 17th. Needham & Company LLC reiterated a buy rating and set a $7.00 target price on shares of Lantronix in a research report on Friday, September 6th. Finally, StockNews.com downgraded Lantronix from a strong-buy rating to a buy rating in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lantronix currently has a consensus rating of Buy and an average price target of $7.30.

Lantronix Stock Up 9.2 %

LTRX opened at $4.29 on Wednesday. The business’s fifty day moving average is $3.69 and its two-hundred day moving average is $3.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 2.25. The company has a market cap of $161.22 million, a price-to-earnings ratio of -23.50 and a beta of 2.12. Lantronix has a one year low of $3.08 and a one year high of $6.95.

Insider Transactions at Lantronix

In other news, major shareholder Bernhard Bruscha sold 23,949 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $4.04, for a total value of $96,753.96. Following the completion of the transaction, the insider now directly owns 5,381,471 shares of the company’s stock, valued at $21,741,142.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lantronix by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after purchasing an additional 131,476 shares during the last quarter. SG Americas Securities LLC acquired a new position in Lantronix in the first quarter valued at $55,000. Jump Financial LLC increased its stake in Lantronix by 115.4% in the fourth quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock valued at $187,000 after purchasing an additional 17,138 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Lantronix in the fourth quarter valued at $148,000. Finally, First Eagle Investment Management LLC increased its stake in Lantronix by 4.8% in the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock valued at $3,125,000 after purchasing an additional 24,250 shares during the last quarter. 39.38% of the stock is currently owned by institutional investors and hedge funds.

Lantronix Company Profile

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.