Lantronix, Inc. (NASDAQ:LTRX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Lantronix, with six buy ratings and one sell rating among seven analysts. The average 12-month price target is $10.40, compared with the stock’s $5.98 opening price.
• Recent coverage has generally been positive: Canaccord Genuity raised its target to $11, while JonesTrading and Needham initiated coverage with buy ratings and targets of $12 and $11, respectively. Wall Street Zen downgraded the stock to hold.
• Institutional investors own 39.38% of Lantronix, with several funds increasing positions or initiating new stakes. The company provides secure connectivity and data-management products for IoT, industrial, and IT applications.

Shares of Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.40.

Several research firms have issued reports on LTRX. Canaccord Genuity Group upped their target price on shares of Lantronix from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. UBS Group reiterated a "buy" rating on shares of Lantronix in a research note on Friday, June 12th. Wall Street Zen cut shares of Lantronix from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JonesTrading began coverage on shares of Lantronix in a research report on Wednesday, July 15th. They set a "buy" rating and a $12.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on shares of Lantronix in a report on Friday, June 12th. They issued a "buy" rating and a $11.00 target price on the stock.

Hedge Funds Weigh In On Lantronix

Institutional investors and hedge funds have recently modified their holdings of the company. Nano Cap New Millennium Growth Fund L P purchased a new stake in Lantronix during the fourth quarter valued at $2,315,000. Sei Investments Co. boosted its position in Lantronix by 138.0% in the first quarter. Sei Investments Co. now owns 261,292 shares of the technology company's stock worth $1,369,000 after purchasing an additional 151,485 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Lantronix by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company's stock worth $4,952,000 after purchasing an additional 275,842 shares during the last quarter. 683 Capital Management LLC bought a new stake in shares of Lantronix during the 4th quarter valued at about $1,209,000. Finally, Renaissance Technologies LLC grew its stake in shares of Lantronix by 8.8% during the 1st quarter. Renaissance Technologies LLC now owns 690,194 shares of the technology company's stock valued at $3,617,000 after purchasing an additional 56,000 shares during the period. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Lantronix Stock Down 1.5%

LTRX stock opened at $5.98 on Friday. The stock has a market capitalization of $263.02 million, a P/E ratio of -35.18 and a beta of 1.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.80. Lantronix has a 1-year low of $3.38 and a 1-year high of $8.75. The business has a fifty day moving average price of $5.79 and a 200-day moving average price of $6.07.

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.

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