Roth Capital analyst Scott Searle initiated coverage of Lantronix with a Buy rating and $6 price target. The analyst argues that Lantronix has quickly transformed from a marginal IoT player, to be a more meaningful vendor in the Industrial IoT and emerging private network ecosystem.

Lantronix announced its case study focusing on deployment of its Out-of-Band, OOB, solutions and accompanying Level Technical Services by a leading financial services company. This large global entity has a complex IT infrastructure that includes highly distributed mission-critical servers at data centers worldwide. "Lantronix OOB allowed the IT teams to access and manage servers that are on the SWIFT network while ensuring compliance with strict security standards," said Jacques Issa, VP of Marketing for Lantronix. "A key part of this solution includes encrypted access to remote servers with detailed logging, monitoring, and reporting."