Lantronix, Inc. (NASDAQ:LTRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lantronix, Inc. (NASDAQ:LTRX) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.40.

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lantronix in a research note on Friday, July 17th. Canaccord Genuity Group lifted their target price on Lantronix from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Needham & Company LLC began coverage on Lantronix in a report on Friday, June 12th. They set a “buy” rating and a $11.00 price target for the company. UBS Group restated a “buy” rating on shares of Lantronix in a research report on Friday, June 12th. Finally, JonesTrading assumed coverage on Lantronix in a research report on Wednesday, July 15th. They set a “buy” rating and a $12.00 price objective on the stock.

Institutional Investors Weigh In On Lantronix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Lantronix in the fourth quarter worth approximately $2,315,000. Sei Investments Co. raised its position in shares of Lantronix by 138.0% during the 1st quarter. Sei Investments Co. now owns 261,292 shares of the technology company’s stock valued at $1,369,000 after purchasing an additional 151,485 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Lantronix by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company’s stock valued at $4,952,000 after buying an additional 275,842 shares in the last quarter. 683 Capital Management LLC purchased a new position in shares of Lantronix during the 4th quarter valued at $1,209,000. Finally, Renaissance Technologies LLC boosted 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 worth $3,617,000 after buying an additional 56,000 shares during the period. Institutional investors own 39.38% of the company’s stock.

Lantronix Stock Down 1.5%

LTRX opened at $5.98 on Friday. The firm’s 50 day simple moving average is $5.79 and its two-hundred day simple moving average is $6.07. The company has a market capitalization of $263.02 million, a PE ratio of -35.18 and a beta of 1.70. Lantronix has a 1-year low of $3.38 and a 1-year high of $8.75. The company has a current ratio of 2.74, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12.

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.