Roanoke Asset Management Corp NY Has $60,000 Stake in Lantronix, Inc. (NASDAQ:LTRX)

Roanoke Asset Management Corp NY decreased its holdings in Lantronix, Inc. (NASDAQ:LTRX) by 16.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,544 shares of the technology company’s stock after selling 2,962 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Lantronix were worth $60,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC acquired a new position in shares of Lantronix in the 2nd quarter valued at approximately $42,000. Mackenzie Financial Corp acquired a new position in shares of Lantronix in the 2nd quarter valued at approximately $50,000. SG Americas Securities LLC acquired a new position in shares of Lantronix in the 1st quarter valued at approximately $55,000. American Century Companies Inc. raised its position in shares of Lantronix by 27.6% in the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after buying an additional 5,693 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new position in Lantronix during the 1st quarter worth approximately $226,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LTRX. Canaccord Genuity Group began coverage on shares of Lantronix in a research report on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective for the company. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Lantronix in a report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.30.

Insider Activity

In related news, major shareholder Bernhard Bruscha sold 31,630 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60. Following the transaction, the insider now directly owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 85,065 shares of company stock valued at $356,232. 1.60% of the stock is currently owned by insiders.

Lantronix Trading Up 1.3 %

NASDAQ:LTRX opened at $3.96 on Friday. The firm’s fifty day moving average is $3.92 and its 200-day moving average is $3.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95. Lantronix, Inc. has a 52 week low of $3.08 and a 52 week high of $6.95. The firm has a market cap of $150.88 million, a P/E ratio of -33.00 and a beta of 2.13.

Lantronix (NASDAQ:LTRX) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. The company had revenue of $49.08 million for the quarter, compared to analyst estimates of $49.10 million. Equities analysts expect that Lantronix, Inc. will post -0.01 earnings per share for the current year.

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.