Lantronix (NASDAQ:LTRX) announced on Friday that it has revised its guidance on the company’s fiscal 2023 financial performance. Earnings per share (EPS) guidance provided by the company for the period ranges from $0.41 to $0.46, a lower range than the consensus forecast of $0.41 for the period. The revenue estimate set by the consensus was lower than the company’s forecast revenue of between $155.16 million and $665.00 million.
When trading began on Friday, Lantronix shares were priced at $4.68 per share. All financial metrics, including leverage, current ratio, and quick ratio, add up to 1.13. The ratio in question is currently 2.25. Over the past 52 weeks, the price of a Lantronix chip has fluctuated between $3.79 and $8.66. The company’s price has been $5.52 for the last 200 days, while the moving average price for the company has been $4.85 for the last 50 days.
Recently, the LTRX cryptocurrency has been the focus of comments from a variety of brokerage firms. Needham & Company LLC lowered its price target on Lantronix shares to $10.00 from $12.00, while maintaining a buy rating on the company’s stock in a research note published on Friday, November 11. StockNews.com’s previous recommendation for Lantronix was changed from a sell to a hold rating in a research note published on Thursday.
Lantronix director Hoshi Printer was involved in a transaction that took place on November 18 that resulted in the sale of 75,000 shares of the company’s stock. There were transactions in the company’s stock totaling $372,000, with each transaction taking place at an average price of $4.96 per share. Upon completion of the transaction, the director now directly owns 131,198 shares of the company. The aggregate value of these shares is approximately $650,742.08, making the director’s interest in the Company approximately $650,742.08. After filing a court document with the SEC, the transaction was brought to the attention of the general public. The document you are looking for can be found on the SEC’s website. On Friday, November 18th, it was announced that Director Hoshi Printer had sold 75,000 shares of the company, which brings us to another piece of breaking information. There were transactions in the company’s stock totaling $372,000, with each transaction taking place at an average price of $4.96 per share. As a result of the transaction, the director now directly owns 131,198 shares of the company. The total value of these shares is approximately $650,742.08, so the director’s wealth has increased. Clicking on the link will take you to the filing as filed with the Securities and Exchange Commission. The transaction is described in more detail in this file. On November 15, Director Paul F. Folino sold 9,000 shares of the company. The transaction took place on that day. On Tuesday, Mr. Folino also parted with some shares in his company. The average price paid for the shares was found to be $5.41 per share resulting in total sales of $48,690.00 when the shares were sold. The Director now owns 25,052 shares of the Company’s shares, valued at $135,531.32 as a result of the transaction. The disclosure regarding the purchase can be found at this specific location. Company insiders made a profit of $876,926 over the past three months by selling 168,029 shares of the company. A total of 26.30% of the company’s shares are held by persons employed by the company.
Recent events have caused hedge funds to make a number of changes to the stakes they previously held in the company. The value of State Street Corporation’s stake in Lantronix rose 10.3% in the first three months of 2018. After purchasing additional shares during the most recent fiscal quarter, State Street Corporation now holds a total of 71,253 shares, equal to $476,000. The company now holds a total of 6,646 shares in the technology business company. Bank of New York Mellon Corporation increased its stake in Lantronix stock by 3.7% in the first three months of 2018. Bank of New York owns Mellon Corp. after purchasing 2,416 additional shares during the most recent fiscal quarter. now a total of 66,857 shares of the tech company, which is worth a total of $447,000. That’s because the company bought more shares in the most recent fiscal quarter. During the first three months of the year, Engineers Gate Manager LP increased its stake in Lantronix shares by 15.1%. Compared to how many shares it held three months ago, Engineers Gate Manager LP now has a total of 65,502 shares, each worth $438,000. This is a significant increase from the number of shares held three months ago. This means an increase of 8,608 shares in the company. A new investment in Lantronix was acquired by Portolan Capital Management LLC for nearly $334,000 in the first three months of this year. During the first quarter, Northern Trust Corporation increased its stake in Lantronix stock by 25.9% to compete with other investors. The total number of shares Northern Trust Corp. owns in the technology company has risen to 44,755 with a value of $299,000. This increases the number of shares the company currently holds in the tech company by 9,219 shares. Institutional investors and hedge funds together own 33.62% of the total number of shares issued by the company.
Across the Americas, Europe, the Middle East, Africa and Asia Pacific, including Japan, Lantronix, Inc. provides video surveillance, traffic management, infotainment systems, robotics, edge computing and remote environment management solutions. These problems could be solved in each of these geographic areas. By providing wired and wireless connectivity, Power over Ethernet for IoT end devices, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and a host of other functions, IoT system solutions can add value and utility to modern electronic systems and equipment. Processing requests and providing communications are just two of the many functions that embedded IoT modules can perform.
