Brokerages Expect Lantronix, Inc. (NASDAQ:LTRX) to Announce -$0.02 Earnings Per Share
Wall Street analysts expect that Lantronix, Inc. (NASDAQ:LTRX) will post earnings of ($0.02) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Lantronix’s earnings. Lantronix also reported earnings per share of ($0.02) during the same quarter last year. The business is expected to issue its next quarterly earnings results on Tuesday, August 22nd.
According to Zacks, analysts expect that Lantronix will report full year earnings of ($0.05) per share for the current fiscal year, with EPS estimates ranging from ($0.05) to ($0.04). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.03) per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Lantronix.
Lantronix (NASDAQ:LTRX) last issued its quarterly earnings results on Friday, April 28th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. The business had revenue of $11.52 million for the quarter. Lantronix had a negative net margin of 1.07% and a positive return on equity of 0.86%.
LTRX has been the subject of a number of analyst reports. ValuEngine upgraded Lantronix from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut Lantronix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 17th. Finally, Lake Street Capital upped their price target on Lantronix from $2.50 to $4.00 and gave the stock a “buy” rating in a report on Friday, April 28th.
Shares of Lantronix (LTRX) traded up 0.83% during mid-day trading on Friday, hitting $2.43. 24,751 shares of the stock traded hands. The company’s market cap is $42.73 million. The stock has a 50 day moving average price of $2.46 and a 200-day moving average price of $2.48. Lantronix has a one year low of $1.00 and a one year high of $4.09.
In other Lantronix news, VP Michael Andrew Fink sold 44,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $2.32, for a total value of $102,080.00. Following the completion of the transaction, the vice president now owns 12,094 shares in the company, valued at approximately $28,058.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 77,194 shares of company stock valued at $179,082. 52.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Lantronix by 41.1% in the fourth quarter. Renaissance Technologies LLC now owns 248,550 shares of the technology company’s stock worth $423,000 after buying an additional 72,384 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Lantronix during the first quarter worth about $765,000. Algert Global LLC acquired a new position in shares of Lantronix during the first quarter worth about $230,000. Spark Investment Management LLC acquired a new position in shares of Lantronix during the first quarter worth about $138,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Lantronix during the first quarter worth about $120,000. 16.39% of the stock is currently owned by institutional investors.
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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