Lantronix's (LTRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lantronix (NASDAQ:LTRX - Free Report) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $5.50 target price on the technology company's stock.

A number of other research firms also recently issued reports on LTRX. Canaccord Genuity Group cut their price objective on shares of Lantronix from $7.50 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. StockNews.com downgraded Lantronix from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $6.50.

Lantronix Trading Up 7.7 %

Shares of Lantronix stock traded up $0.27 on Tuesday, reaching $3.78. 519,809 shares of the company's stock were exchanged, compared to its average volume of 430,058. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61. The company has a market capitalization of $145.42 million, a P/E ratio of -27.00 and a beta of 1.94. The firm's 50-day moving average is $3.45 and its two-hundred day moving average is $3.69. Lantronix has a 52 week low of $2.48 and a 52 week high of $6.90.

Insiders Place Their Bets

In other Lantronix news, CEO Saleel Awsare acquired 80,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $2.66 per share, with a total value of $212,800.00. Following the completion of the purchase, the chief executive officer now directly owns 233,184 shares of the company's stock, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hoshi Printer bought 15,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average price of $2.90 per share, with a total value of $43,500.00. Following the completion of the acquisition, the director now directly owns 176,075 shares of the company's stock, valued at approximately $510,617.50. The trade was a 9.31 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTRX. Barclays PLC lifted its holdings in shares of Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company's stock valued at $257,000 after purchasing an additional 43,770 shares in the last quarter. Renaissance Technologies LLC lifted its position in Lantronix by 30.4% during the second quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company's stock valued at $2,323,000 after purchasing an additional 152,400 shares during the period. Geode Capital Management LLC boosted its holdings in Lantronix by 3.2% in the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company's stock worth $1,394,000 after purchasing an additional 10,413 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lantronix by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company's stock worth $3,629,000 after buying an additional 159,671 shares during the last quarter. Finally, Walleye Capital LLC increased its position in Lantronix by 61.9% during the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company's stock valued at $294,000 after acquiring an additional 27,325 shares during the last quarter. 39.38% of the stock is owned by institutional investors.

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.