In a recent transaction on June 3, 2024, Bernhard Bruscha, a significant shareholder of Lantronix Inc (NASDAQ:LTRX), sold 1,051 shares of the company's common stock at a price of $4.02 per share, totaling over $4,225 in value. Following the sale, Bruscha's indirect holdings through TL Investment GmbH, which he manages, amounted to 5,405,420 shares of Lantronix Inc.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. It's worth noting that the shares sold by Bruscha were held indirectly through TL Investment GmbH, a German-based company. Additionally, Bernhard Bruscha disclaims beneficial ownership of the shares held by his spouse, except to the extent of his pecuniary interest.
Investors often monitor insider transactions as they provide insights into how executives and significant shareholders view the company's stock value. While the sale of Lantronix shares by Bruscha represents a small fraction of his total holdings, it contributes to the overall picture of insider sentiment.
Lantronix Inc, headquartered in Irvine, California, specializes in computer communications equipment and operates within the technology sector. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol LTRX.
In other recent news, Lantronix, Inc. has been the subject of several significant developments. The company announced the appointment of Mathi Gurusamy as its new Chief Strategy Officer, bringing over two decades of experience in the IoT and high-tech industries to the role. Lantronix also posted a record revenue of $41.2 million for the third quarter of the fiscal year 2024, a year-over-year increase of 25%. The company anticipates a revenue range of $46.5 million to $51.5 million for Q4.
Financial analysts from Lake Street Capital Markets and Craig-Hallum both adjusted their price targets for Lantronix, while maintaining a Buy rating on the stock. Lake Street Capital Markets reduced the price target to $7.00 from $8.00, while Craig-Hallum downgraded the price target to $6.00 from $7.00. Both firms expressed confidence in Lantronix's growth potential and the company's strategic focus on key verticals such as Smart Cities, Automotive Infotainment, and Enterprise sectors.
Lastly, Lantronix is expected to generate approximately $40 million in revenue from its dealings with Gridspertise in fiscal year 2024, according to Craig-Hallum. Despite some expected decline in the run rate business with Gridspertise heading into fiscal year 2025, Lantronix's revenue for FY25 is expected to remain roughly flat year-over-year. These recent developments highlight Lantronix's ongoing strategic growth initiatives and financial performance.
InvestingPro Insights
As Lantronix Inc (NASDAQ:LTRX) navigates the market, recent data provides a clearer picture of the company's financial health and stock performance. The company's market capitalization currently stands at $136.04 million, indicating its size and significance within the computer communications equipment industry. Despite a challenging period, with the stock price taking a significant hit over the last six months, declining by 37.16%, analysts are optimistic about Lantronix's future profitability. This is reflected in the company's strong revenue growth, which was up 10.56% over the last twelve months as of Q1 2024.
InvestingPro Tips highlight that while Lantronix has not been profitable over the last twelve months, net income is expected to grow this year. Additionally, the company operates with a moderate level of debt and has liquid assets that exceed its short-term obligations, providing some financial flexibility. However, it's worth noting that two analysts have revised their earnings estimates downwards for the upcoming period, which may warrant investor attention.
For those interested in a deeper dive into Lantronix's stock performance and financials, InvestingPro offers additional insights and metrics. There are currently 10 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/LTRX. To further enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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