Lantronix (NASDAQ:LTRX) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Lantronix (NASDAQ:LTRX - Get Free Report) announced its earnings results on Thursday. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13), Zacks reports. Lantronix had a negative net margin of 3.15% and a negative return on equity of 2.60%.

Lantronix Stock Down 1.9 %

Shares of Lantronix stock traded down $0.06 during trading on Monday, hitting $3.12. 773,534 shares of the stock traded hands, compared to its average volume of 442,724. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $3.74 and its 200 day simple moving average is $3.69. The firm has a market cap of $120.03 million, a P/E ratio of -24.00 and a beta of 1.94. Lantronix has a 52-week low of $2.48 and a 52-week high of $4.55.

Analysts Set New Price Targets

LTRX has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Lantronix from $5.00 to $4.50 and set a "buy" rating on the stock in a research report on Friday. StockNews.com downgraded Lantronix from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a "buy" rating and set a $5.50 target price on shares of Lantronix in a research report on Tuesday, January 21st. Finally, Lake Street Capital reduced their price target on shares of Lantronix from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $6.00.

Insider Buying and Selling

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

About Lantronix

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.