Lantronix (NASDAQ:LTRX) issued its quarterly earnings data on Thursday. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07, MarketWatch Earnings reports. Lantronix had a negative net margin of 7.34% and a negative return on equity of 13.12%. During the same period in the prior year, the company earned ($0.05) earnings per share. Lantronix updated its FY 2022 guidance to $0.320-$0.400 EPS.
Lantronix stock traded down $1.03 during midday trading on Friday, hitting $6.84. 27,713 shares of the company’s stock were exchanged, compared to its average volume of 285,876. Lantronix has a 12-month low of $4.06 and a 12-month high of $10.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.18 and a current ratio of 2.04. The stock has a market cap of $203.45 million, a price-to-earnings ratio of -34.90 and a beta of 2.30. The firm’s 50 day simple moving average is $7.40 and its 200 day simple moving average is $6.91.
LTRX has been the subject of a number of research reports. Zacks Investment Research raised shares of Lantronix from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 13th. Needham & Company LLC upped their price objective on shares of Lantronix from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Finally, Lake Street Capital upped their price objective on shares of Lantronix from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Lantronix currently has an average rating of “Buy” and an average target price of $10.35.
In related news, CEO Paul H. Pickle bought 15,000 shares of the stock in a transaction that occurred on Friday, December 3rd. The stock was purchased at an average cost of $6.80 per share, for a total transaction of $102,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul H. Pickle purchased 13,000 shares of Lantronix stock in a transaction on Monday, November 22nd. The shares were acquired at an average cost of $7.71 per share, for a total transaction of $100,230.00. The disclosure for this purchase can be found here. Insiders sold a total of 709,167 shares of company stock valued at $4,999,849 in the last 90 days. Company insiders own 25.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA purchased a new stake in Lantronix during the fourth quarter valued at about $30,000. Morgan Stanley lifted its stake in Lantronix by 93.2% during the second quarter. Morgan Stanley now owns 10,221 shares of the technology company’s stock valued at $53,000 after buying an additional 4,930 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Lantronix in the 3rd quarter valued at about $100,000. Citadel Advisors LLC acquired a new position in shares of Lantronix in the 2nd quarter valued at about $108,000. Finally, Millennium Management LLC acquired a new position in shares of Lantronix in the 2nd quarter valued at about $245,000. 17.15% of the stock is owned by institutional investors.
About Lantronix
Lantronix, Inc engages in the provision of software as a service (SaaS), engineering services, and hardware for Edge Computing, the Internet of Things (IoT), and Remote Environment Management (REM). Its products and solutions include IoT, REM and Other. The company was founded by Bernhard Bruscha in June 1989 and is headquartered in Irvine, CA.