Lantronix (NASDAQ:LTRX) issued its quarterly earnings results on Tuesday. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03), Morningstar.com reports. Lantronix had a net margin of 3.70% and a return on equity of 8.19%. The business had revenue of $10.15 million during the quarter. Lantronix updated its Q1 2020 guidance to $-0.03-0.00 EPS and its FY 2020 guidance to $0.21 EPS.
Shares of NASDAQ:LTRX opened at $3.79 on Wednesday. The stock’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $3.32. Lantronix has a 12-month low of $2.34 and a 12-month high of $5.94. The firm has a market cap of $82.43 million, a price-to-earnings ratio of 28.23 and a beta of 0.79.
Separately, ValuEngine upgraded Lantronix from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th.
Large investors have recently modified their holdings of the business. Wedbush Securities Inc. purchased a new stake in shares of Lantronix during the 2nd quarter valued at $33,000. Alambic Investment Management L.P. raised its position in shares of Lantronix by 37.2% in the 1st quarter. Alambic Investment Management L.P. now owns 18,163 shares of the technology company’s stock worth $55,000 after buying an additional 4,923 shares during the period. LPL Financial LLC acquired a new position in Lantronix in the second quarter valued at $266,000. BlackRock Inc. boosted its holdings in Lantronix by 6.3% in the second quarter. BlackRock Inc. now owns 139,656 shares of the technology company’s stock valued at $465,000 after acquiring an additional 8,238 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Lantronix by 22.9% during the first quarter. Acadian Asset Management LLC now owns 240,860 shares of the technology company’s stock valued at $727,000 after acquiring an additional 44,894 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.
Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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