Printer Hoshi, a director at Lantronix Inc. (NASDAQ:LTRX), recently purchased shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The insider purchase comes at a time when InvestingPro data shows the stock has experienced significant volatility and underperformed in recent weeks. The transactions occurred over two days, with Hoshi acquiring a total of 15,350 shares. On November 26, Hoshi bought 15,000 shares at a price of $2.90 each. The following day, an additional 350 shares were purchased at $2.85 per share. The total value of these transactions amounted to $44,497. Following these acquisitions, Hoshi now holds 176,425 shares of Lantronix directly.While the company wasn't profitable over the last twelve months, InvestingPro analysis indicates that analysts expect Lantronix to return to profitability this year. For deeper insights into Lantronix's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers this and over 1,400 other US stocks.
In other recent news, Lantronix Inc. reported a modest 4% year-over-year revenue growth, amounting to $34.4 million for the first quarter of fiscal year 2025. The non-GAAP earnings per share (EPS) were reported at $0.06. Canaccord Genuity revised its stock price target for Lantronix, reducing it to $5.00 from the previous $7.50, while maintaining a Buy rating on the company's shares. The firm anticipates potential future acquisitions by Lantronix, which could enhance the company's growth prospects.
Furthermore, Canaccord Genuity is also awaiting follow-on orders from Lantronix's largest customer, Gridspertise, and Turkish automotive OEM, Togg. The appointment of a new Chief Financial Officer (CFO) for Lantronix is also pending. The arrival of a new CFO could provide additional financial guidance and stability, positively impacting the company's valuation.
Lantronix's acquisition of NetComm's IoT product line is expected to boost its revenue significantly in the coming year. The company also provided a cautious revenue outlook for Q2 FY2025, projecting revenue between $29 million and $33 million and non-GAAP EPS ranging from $0.01 to $0.05. These recent developments do not include contributions from the NetComm acquisition.
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