Lantronix, Inc. (NASDAQ:LTRX) reported in-line earnings for the third quarter, after the closing bell on Thursday.

The company posted quarterly earnings of 3 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $28.50 million which missed the analyst consensus estimate of $29.12 million.

“We’re positioning Lantronix to lead the next wave of industrial and enterprise transformation at the edge,” said Saleel Awsare, president and CEO of Lantronix. “This quarter reflects continued investment in high-growth areas — from AI-enabled gateways to 5G connectivity — while advancing our innovation roadmap, global partnerships and talent base.”

Lantronix said it sees fourth-quarter adjusted EPS of $0.00-$0.02, versus market estimates of $0.05 Est, and expects sales of $26.50 million-$30.580 million versus expectations of $30.13 million.

Lantronix shares fell 1.4% to trade at $2.07 on Monday.

These analysts made changes to their price targets on Lantronix following earnings announcement.

• Needham analyst Ryan Koontz maintained Lantronix with a Buy and lowered the price target from $5.5 to $4.5.
• Canaccord Genuity analyst George Gianarikas maintained the stock with a Buy and lowered the price target from $4.5 to $3.

Considering buying LTRX stock? Here’s what analysts think:

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