Lantronix (NASDAQ:LTRX) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Lantronix from “buy” to “hold,” though broader analyst sentiment remains “Moderate Buy,” with six buy ratings, one sell rating and an average price target of $10.40.
• Lantronix shares opened at $5.97, compared with a 52-week range of $2.86 to $8.75. The company’s latest quarterly results slightly missed expectations, reporting $0.04 in EPS and $30.18 million in revenue.
• Institutional investors generally increased their holdings, and institutions collectively own 39.38% of Lantronix’s stock.

Lantronix (NASDAQ:LTRX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

LTRX has been the topic of a number of other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Lantronix in a report on Friday, July 17th. JonesTrading assumed coverage on Lantronix in a research note on Wednesday, July 15th. They set a "buy" rating and a $12.00 price target for the company. UBS Group reissued a "buy" rating on shares of Lantronix in a research note on Friday, June 12th. Needham & Company LLC initiated coverage on shares of Lantronix in a research report on Friday, June 12th. They set a "buy" rating and a $11.00 target price for the company. Finally, Canaccord Genuity Group increased their price objective on Lantronix from $10.50 to $11.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.40.

Lantronix Trading Up 2.4%

Shares of LTRX stock opened at $5.97 on Friday. Lantronix has a fifty-two week low of $2.86 and a fifty-two week high of $8.75. The stock has a market cap of $262.56 million, a price-to-earnings ratio of -35.12 and a beta of 1.70. The company has a quick ratio of 1.80, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm's 50 day moving average price is $5.97 and its two-hundred day moving average price is $6.11.

Lantronix (NASDAQ:LTRX - Get Free Report) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The firm had revenue of $30.18 million for the quarter, compared to analyst estimates of $30.49 million. Lantronix had a negative return on equity of 6.79% and a negative net margin of 5.52%. On average, analysts anticipate that Lantronix will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LTRX. Vanguard Group Inc. raised its position in shares of Lantronix by 2.8% during the third quarter. Vanguard Group Inc. now owns 1,486,791 shares of the technology company's stock worth $6,795,000 after acquiring an additional 40,890 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Lantronix by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,025 shares of the technology company's stock valued at $4,952,000 after acquiring an additional 275,842 shares during the period. Renaissance Technologies LLC boosted its position in shares of Lantronix by 8.8% during the first quarter. Renaissance Technologies LLC now owns 690,194 shares of the technology company's stock worth $3,617,000 after purchasing an additional 56,000 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Lantronix by 9.7% in the 4th quarter. Marshall Wace LLP now owns 678,929 shares of the technology company's stock valued at $3,979,000 after buying an additional 59,866 shares during the period. Finally, Soviero Asset Management LP grew its holdings in shares of Lantronix by 11.8% in the 4th quarter. Soviero Asset Management LP now owns 570,000 shares of the technology company's stock valued at $3,340,000 after buying an additional 60,000 shares during the period. Institutional investors 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.

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