Lantronix, Inc. (NASDAQ:LTRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Lantronix designs, develops and markets products that enable almost any electronic device to be controlled, configured or reprogrammed over the Internet and/or intranets. The company’s products connect these electronic devices to the Internet and/or intranets by using the infrastructure already in place to connect businesses and homes to the Internet, including fiber optic, Ethernet and wireless connections. Its primary products that connect electronic devices are its Device Servers and Multiport Device Servers. “
Lantronix (NASDAQ:LTRX) opened at 1.70 on Thursday. The stock’s market capitalization is $29.33 million. Lantronix has a 12 month low of $0.80 and a 12 month high of $2.14. The company has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.40.
Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.05. Lantronix had a negative return on equity of 5.37% and a negative net margin of 4.24%. The company had revenue of $10.90 million for the quarter, compared to analyst estimates of $9.80 million. Equities analysts predict that Lantronix will post ($0.16) earnings per share for the current year.
An institutional investor recently raised its position in Lantronix stock. Roanoke Asset Management Corp NY boosted its stake in Lantronix, Inc. (NASDAQ:LTRX) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,000 shares of the company’s stock after buying an additional 12,000 shares during the period. Roanoke Asset Management Corp NY owned about 0.83% of Lantronix worth $123,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.69% of the company’s stock.
Lantronix Company Profile
Lantronix, Inc is a provider of secure data access and management solutions for Internet of things (IoT) and information technology (IT) assets. The Company organizes its products and solutions into three product lines, including IoT, IT Management and Other. Its IoT products consist of IoT Gateways and IoT Building Blocks.
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