Lantronix, Inc. (NASDAQ:LTRX) Major Shareholder Sells $104,250.00 in Stock

Lantronix, Inc. (NASDAQ:LTRX) major shareholder Bernhard Bruscha sold 25,000 shares of Lantronix stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $4.17, for a total transaction of $104,250.00. Following the completion of the sale, the insider now owns 5,218,971 shares in the company, valued at $21,763,109.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Bernhard Bruscha also recently made the following trade(s):

• On Thursday, September 12th, Bernhard Bruscha sold 31,630 shares of Lantronix stock. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60.
• On Tuesday, September 10th, Bernhard Bruscha sold 8,435 shares of Lantronix stock. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00.
• On Wednesday, July 31st, Bernhard Bruscha sold 23,949 shares of Lantronix stock. The shares were sold at an average price of $4.04, for a total value of $96,753.96.

Lantronix Trading Down 0.8 %

Shares of Lantronix stock opened at $3.92 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 2.03. The business has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $3.67. Lantronix, Inc. has a 1 year low of $3.08 and a 1 year high of $6.95. The company has a market capitalization of $147.31 million, a price-to-earnings ratio of -21.50 and a beta of 2.12.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $49.08 million during the quarter, compared to the consensus estimate of $49.10 million. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. Research analysts forecast that Lantronix, Inc. will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Lantronix

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC bought a new stake in Lantronix in the 2nd quarter valued at $42,000. Mackenzie Financial Corp acquired a new stake in shares of Lantronix during the second quarter worth $50,000. SG Americas Securities LLC bought a new stake in shares of Lantronix in the first quarter valued at about $55,000. American Century Companies Inc. grew its stake in shares of Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after acquiring an additional 5,693 shares in the last quarter. Finally, Heron Bay Capital Management bought a new position in Lantronix during the first quarter worth about $226,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

Analysts Set New Price Targets

LTRX has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and issued a $9.00 price target on shares of Lantronix in a research note on Monday, June 17th. StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Lantronix in a research report on Friday, September 6th. Finally, Canaccord Genuity Group began coverage on shares of Lantronix in a research report on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $7.30.

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.