Lantronix (NASDAQ:LTRX) Issues FY 2024 Earnings Guidance

Lantronix (NASDAQ:LTRXGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.350-0.450 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $155.0 million-$165.0 million, compared to the consensus revenue estimate of $177.4 million. Lantronix also updated its Q3 2024 guidance to 0.090-0.130 EPS.

Lantronix Price Performance

Shares of LTRX stock traded down $0.02 during trading on Thursday, hitting $5.81. The company had a trading volume of 417,403 shares, compared to its average volume of 207,398. The stock’s 50-day moving average is $6.08 and its two-hundred day moving average is $5.04. The stock has a market capitalization of $216.48 million, a price-to-earnings ratio of -23.32 and a beta of 2.25. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.20. Lantronix has a 52 week low of $3.52 and a 52 week high of $6.95.

Lantronix (NASDAQ:LTRXGet Free Report) last issued its earnings results on Wednesday, November 8th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $33.03 million during the quarter, compared to analyst estimates of $31.50 million. Lantronix had a negative return on equity of 11.81% and a negative net margin of 6.96%. As a group, analysts predict that Lantronix will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

LTRX has been the topic of several recent research reports. Needham & Company LLC restated a buy rating and set a $8.50 price target on shares of Lantronix in a research report on Friday, January 19th. StockNews.com cut shares of Lantronix from a strong-buy rating to a buy rating in a research report on Monday. Finally, TheStreet raised Lantronix from a d+ rating to a c- rating in a research report on Friday, December 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lantronix currently has an average rating of Buy and a consensus target price of $9.80.

Check Out Our Latest Analysis on LTRX

Institutional Trading of Lantronix

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Lantronix by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,254,718 shares of the technology company’s stock worth $5,583,000 after acquiring an additional 97,188 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lantronix by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 903,101 shares of the technology company’s stock worth $5,292,000 after purchasing an additional 88,603 shares during the last quarter. Portolan Capital Management LLC lifted its holdings in shares of Lantronix by 20.5% during the first quarter. Portolan Capital Management LLC now owns 833,045 shares of the technology company’s stock valued at $3,615,000 after purchasing an additional 141,927 shares in the last quarter. Lynrock Lake LP boosted its position in shares of Lantronix by 1.5% during the fourth quarter. Lynrock Lake LP now owns 666,666 shares of the technology company’s stock valued at $2,880,000 after buying an additional 9,983 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Lantronix by 57.0% in the 3rd quarter. BlackRock Inc. now owns 403,091 shares of the technology company’s stock worth $1,939,000 after buying an additional 146,421 shares in the last quarter. 37.21% of the stock is owned by institutional investors.

About Lantronix

(Get Free Report)

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.

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