Lantronix (NASDAQ:LTRX) Issues Earnings Results, Misses Estimates By $0.03 EPS

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Lantronix (NASDAQ:LTRX) announced its quarterly earnings results on Tuesday. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03), Morningstar.com reports. The business had revenue of $10.15 million during the quarter. Lantronix had a negative net margin of 0.87% and a positive return on equity of 5.36%. 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 $3.40 on Friday. Lantronix has a twelve month low of $2.34 and a twelve month high of $5.12. The stock has a 50 day moving average of $3.47 and a two-hundred day moving average of $3.32. The stock has a market cap of $85.13 million, a P/E ratio of 48.57 and a beta of 0.79.

A number of equities research analysts have weighed in on LTRX shares. Needham & Company LLC reduced their price objective on Lantronix from $4.50 to $4.25 and set a “buy” rating for the company in a research note on Wednesday. ValuEngine upgraded Lantronix from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. River & Mercantile Asset Management LLP purchased a new stake in shares of Lantronix during the second quarter worth approximately $1,599,000. Cadence Capital Management LLC raised its stake in shares of Lantronix by 1.8% during the first quarter. Cadence Capital Management LLC now owns 477,348 shares of the technology company’s stock worth $1,442,000 after purchasing an additional 8,404 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Lantronix by 22.9% during the first quarter. Acadian Asset Management LLC now owns 240,860 shares of the technology company’s stock worth $727,000 after purchasing an additional 44,894 shares during the last quarter. BlackRock Inc. raised its stake in shares of Lantronix by 6.3% during the second quarter. BlackRock Inc. now owns 139,656 shares of the technology company’s stock worth $465,000 after purchasing an additional 8,238 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Lantronix during the second quarter worth approximately $266,000. Institutional investors own 19.77% of the company’s stock.

About Lantronix

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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Earnings History for Lantronix (NASDAQ:LTRX)

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