Needham analyst Richard Valera maintained a Buy rating on Lantronix (LTRX) today and set a price target of $6.00. The company’s shares closed last Thursday at $4.83, close to its 52-week high of $5.48.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 16.4% and a 65.3% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.
Currently, the analyst consensus on Lantronix is a Moderate Buy with an average price target of $6.30.
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Based on Lantronix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.4 million and GAAP net loss of $1.7 million. In comparison, last year the company earned revenue of $10.15 million and had a GAAP net loss of $1.46 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LTRX in relation to earlier this year. Most recently, in August 2020, Bernhard Bruscha, a Director at LTRX bought 25,000 shares for a total of $37,750.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Lantronix, Inc. engages in the provision of secure data access and management solutions for internet of things. It operates through the following product lines: Internet of Things (loT), Information Technology Management, and Other. The Internet of Things (loT) provides network connectivity, and is designed to enhance the value and utility of machines. The Information Technology Management includes console management, power management, and keyboard video mouse products. The Others consists of non-focus or end-of-life products. The company was founded by Bernhard Bruscha in June 1989 and is headquartered in Irvine, CA.
