diff --git a/subsys/net/lib/lwm2m/lwm2m_engine.c b/subsys/net/lib/lwm2m/lwm2m_engine.c
index 3de2aca8a77..80e9e29373c 100644
--- a/subsys/net/lib/lwm2m/lwm2m_engine.c
+++ b/subsys/net/lib/lwm2m/lwm2m_engine.c
@@ -43,6 +43,7 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_rw_link_format.h"
 #include "lwm2m_rw_plain_text.h"
 #include "lwm2m_rw_oma_tlv.h"
+#include "lwm2m_util.h"
 #ifdef CONFIG_LWM2M_RW_JSON_SUPPORT
 #include "lwm2m_rw_json.h"
 #endif
@@ -829,50 +830,6 @@ static uint16_t atou16(uint8_t *buf, uint16_t buflen, uint16_t *len)
 	return val;
 }
 
-static int atof32(const char *input, float32_value_t *out)
-{
-	char *pos, *end, buf[24];
-	long int val;
-	int32_t base = 1000000, sign = 1;
-
-	if (!input || !out) {
-		return -EINVAL;
-	}
-
-	strncpy(buf, input, sizeof(buf) - 1);
-	buf[sizeof(buf) - 1] = '\0';
-
-	if (strchr(buf, '-')) {
-		sign = -1;
-	}
-
-	pos = strchr(buf, '.');
-	if (pos) {
-		*pos = '\0';
-	}
-
-	errno = 0;
-	val = strtol(buf, &end, 10);
-	if (errno || *end || val < INT_MIN) {
-		return -EINVAL;
-	}
-
-	out->val1 = (int32_t) val;
-	out->val2 = 0;
-
-	if (!pos) {
-		return 0;
-	}
-
-	while (*(++pos) && base > 1 && isdigit((unsigned char)*pos)) {
-		out->val2 = out->val2 * 10 + (*pos - '0');
-		base /= 10;
-	}
-
-	out->val2 *= sign * base;
-	return !*pos || base == 1 ? 0 : -EINVAL;
-}
-
 static int coap_options_to_path(struct coap_option *opt, int options_count,
 				struct lwm2m_obj_path *path)
 {
@@ -2831,7 +2788,7 @@ static int lwm2m_write_attr_handler(struct lwm2m_engine_obj *obj,
 			val.val1 = v;
 		} else {
 			/* gt/lt/st: type float */
-			ret = atof32(opt_buf, &val);
+			ret = lwm2m_atof32(opt_buf, &val);
 		}
 
 		if (ret < 0) {
diff --git a/subsys/net/lib/lwm2m/lwm2m_rw_plain_text.c b/subsys/net/lib/lwm2m/lwm2m_rw_plain_text.c
index af19e16c3af..b27ce429755 100644
--- a/subsys/net/lib/lwm2m/lwm2m_rw_plain_text.c
+++ b/subsys/net/lib/lwm2m/lwm2m_rw_plain_text.c
@@ -71,6 +71,7 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_rw_plain_text.h"
 #include "lwm2m_engine.h"
+#include "lwm2m_util.h"
 
 /* some temporary buffer space for format conversions */
 static char pt_buffer[42]; /* can handle float64 format */
@@ -176,22 +177,15 @@ static size_t put_objlnk(struct lwm2m_output_context *out,
 				     value->obj_inst);
 }
 
-static size_t plain_text_read_number(struct lwm2m_input_context *in,
-				     int64_t *value1,
-				     int64_t *value2,
-				     bool accept_sign, bool accept_dot)
+static size_t plain_text_read_int(struct lwm2m_input_context *in,
+				  int64_t *value, bool accept_sign)
 {
-	int64_t *counter = value1;
 	int i = 0;
 	bool neg = false;
-	bool dot_found = false;
 	uint8_t tmp;
 
 	/* initialize values to 0 */
-	*value1 = 0;
-	if (value2) {
-		*value2 = 0;
-	}
+	*value = 0;
 
 	while (in->offset < in->in_cpkt->offset) {
 		if (buf_read_u8(&tmp, CPKT_BUF_READ(in->in_cpkt),
@@ -201,12 +195,8 @@ static size_t plain_text_read_number(struct lwm2m_input_context *in,
 
 		if (tmp == '-' && accept_sign && i == 0) {
 			neg = true;
-		} else if (tmp == '.' && i > 0 && accept_dot && !dot_found &&
-			   value2) {
-			dot_found = true;
-			counter = value2;
 		} else if (isdigit(tmp)) {
-			*counter = *counter * 10 + (tmp - '0');
+			*value = *value * 10 + (tmp - '0');
 		} else {
 			/* anything else stop reading */
 			in->offset--;
@@ -217,7 +207,7 @@ static size_t plain_text_read_number(struct lwm2m_input_context *in,
 	}
 
 	if (neg) {
-		*value1 = -*value1;
+		*value = -*value;
 	}
 
 	return i;
@@ -228,7 +218,7 @@ static size_t get_s32(struct lwm2m_input_context *in, int32_t *value)
 	int64_t tmp = 0;
 	size_t len = 0;
 
-	len = plain_text_read_number(in, &tmp, NULL, true, false);
+	len = plain_text_read_int(in, &tmp, true);
 	if (len > 0) {
 		*value = (int32_t)tmp;
 	}
@@ -238,7 +228,7 @@ static size_t get_s32(struct lwm2m_input_context *in, int32_t *value)
 
 static size_t get_s64(struct lwm2m_input_context *in, int64_t *value)
 {
-	return plain_text_read_number(in, value, NULL, true, false);
+	return plain_text_read_int(in, value, true);
 }
 
 static size_t get_string(struct lwm2m_input_context *in,
@@ -266,13 +256,42 @@ static size_t get_string(struct lwm2m_input_context *in,
 static size_t get_float32fix(struct lwm2m_input_context *in,
 			     float32_value_t *value)
 {
-	int64_t tmp1, tmp2;
-	size_t len = 0;
+	size_t i = 0, len = 0;
+	bool has_dot = false;
+	uint8_t tmp, buf[24];
 
-	len = plain_text_read_number(in, &tmp1, &tmp2, true, true);
-	if (len > 0) {
-		value->val1 = (int32_t)tmp1;
-		value->val2 = (int32_t)tmp2;
+
+	while (in->offset < in->in_cpkt->offset) {
+		if (buf_read_u8(&tmp, CPKT_BUF_READ(in->in_cpkt),
+				&in->offset) < 0) {
+			break;
+		}
+
+		if ((tmp == '-' && i == 0) || (tmp == '.' && !has_dot) ||
+		    isdigit(tmp)) {
+			len++;
+
+			/* Copy only if it fits into provided buffer - we won't
+			 * get better precision anyway.
+			 */
+			if (i < sizeof(buf) - 1) {
+				buf[i++] = tmp;
+			}
+
+			if (tmp == '.') {
+				has_dot = true;
+			}
+		} else {
+			/* anything else stop reading */
+			in->offset--;
+			break;
+		}
+	}
+
+	buf[i] = '\0';
+
+	if (lwm2m_atof32(buf, value) != 0) {
+		LOG_ERR("Failed to parse float value");
 	}
 
 	return len;
@@ -342,14 +361,14 @@ static size_t get_objlnk(struct lwm2m_input_context *in,
 	int64_t tmp;
 	size_t len;
 
-	len = plain_text_read_number(in, &tmp, NULL, false, false);
+	len = plain_text_read_int(in, &tmp, false);
 	value->obj_id = (uint16_t)tmp;
 
 	/* Skip ':' delimeter. */
 	in->offset++;
 	len++;
 
-	len += plain_text_read_number(in, &tmp, NULL, false, false);
+	len += plain_text_read_int(in, &tmp, false);
 	value->obj_inst = (uint16_t)tmp;
 
 	return len;
diff --git a/subsys/net/lib/lwm2m/lwm2m_util.c b/subsys/net/lib/lwm2m/lwm2m_util.c
index a5be1f5448b..71ffcc4abb8 100644
--- a/subsys/net/lib/lwm2m/lwm2m_util.c
+++ b/subsys/net/lib/lwm2m/lwm2m_util.c
@@ -6,6 +6,7 @@
 
 #include <kernel.h>
 #include <stdlib.h>
+#include <ctype.h>
 #include "lwm2m_util.h"
 
 #define SHIFT_LEFT(v, o, m) (((v) << (o)) & (m))
@@ -296,3 +297,47 @@ int lwm2m_b64_to_f32(uint8_t *b64, size_t len, float32_value_t *f32)
 
 	return 0;
 }
+
+int lwm2m_atof32(const char *input, float32_value_t *out)
+{
+	char *pos, *end, buf[24];
+	long val;
+	int32_t base = LWM2M_FLOAT32_DEC_MAX, sign = 1;
+
+	if (!input || !out) {
+		return -EINVAL;
+	}
+
+	strncpy(buf, input, sizeof(buf) - 1);
+	buf[sizeof(buf) - 1] = '\0';
+
+	if (strchr(buf, '-')) {
+		sign = -1;
+	}
+
+	pos = strchr(buf, '.');
+	if (pos) {
+		*pos = '\0';
+	}
+
+	errno = 0;
+	val = strtol(buf, &end, 10);
+	if (errno || *end || val < INT_MIN) {
+		return -EINVAL;
+	}
+
+	out->val1 = (int32_t) val;
+	out->val2 = 0;
+
+	if (!pos) {
+		return 0;
+	}
+
+	while (*(++pos) && base > 1 && isdigit((unsigned char)*pos)) {
+		out->val2 = out->val2 * 10 + (*pos - '0');
+		base /= 10;
+	}
+
+	out->val2 *= sign * base;
+	return !*pos || base == 1 ? 0 : -EINVAL;
+}
diff --git a/subsys/net/lib/lwm2m/lwm2m_util.h b/subsys/net/lib/lwm2m/lwm2m_util.h
index 068597b7f40..216d83de5f2 100644
--- a/subsys/net/lib/lwm2m/lwm2m_util.h
+++ b/subsys/net/lib/lwm2m/lwm2m_util.h
@@ -17,4 +17,7 @@ int lwm2m_f32_to_b64(float32_value_t *f32, uint8_t *b64, size_t len);
 int lwm2m_b32_to_f32(uint8_t *b32, size_t len, float32_value_t *f32);
 int lwm2m_b64_to_f32(uint8_t *b64, size_t len, float32_value_t *f32);
 
+/* convert string to float struct */
+int lwm2m_atof32(const char *input, float32_value_t *out);
+
 #endif /* LWM2M_UTIL_H_ */