Lantronix, Inc. (NASDAQ:LTRX) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its holdings in shares of Lantronix, Inc. (NASDAQ:LTRX) by 67.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 520,592 shares of the technology company’s stock after selling 1,101,751 shares during the quarter. Wasatch Advisors LP owned 1.39% of Lantronix worth $1,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LTRX. Algert Global LLC acquired a new stake in Lantronix during the 3rd quarter valued at approximately $50,000. Quadrature Capital Ltd acquired a new position in shares of Lantronix in the 3rd quarter worth approximately $109,000. Citigroup Inc. acquired a new position in shares of Lantronix in the 3rd quarter worth approximately $35,000. AMH Equity Ltd grew its position in shares of Lantronix by 16.0% in the 4th quarter. AMH Equity Ltd now owns 1,321,234 shares of the technology company’s stock worth $7,742,000 after acquiring an additional 182,552 shares in the last quarter. Finally, Jump Financial LLC grew its position in shares of Lantronix by 115.4% in the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after acquiring an additional 17,138 shares in the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

Lantronix Stock Performance

Lantronix stock traded down $0.01 during mid-day trading on Tuesday, hitting $3.60. 171,751 shares of the company’s stock traded hands, compared to its average volume of 288,073. The firm has a 50 day moving average price of $3.69 and a 200 day moving average price of $4.35. The company has a quick ratio of 1.32, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. The company has a market cap of $135.29 million, a PE ratio of -20.00 and a beta of 2.14. Lantronix, Inc. has a one year low of $3.08 and a one year high of $6.95.

Lantronix (NASDAQ:LTRX) last announced its earnings results on Monday, April 29th. The technology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $41.18 million for the quarter, compared to the consensus estimate of $40.80 million. Lantronix had a negative return on equity of 8.47% and a negative net margin of 4.48%. On average, equities analysts forecast that Lantronix, Inc. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Lantronix in a research report on Tuesday, April 30th. Lake Street Capital decreased their target price on Lantronix from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Roth Mkm reissued a “buy” rating and issued a $9.00 price target on shares of Lantronix in a report on Monday, June 17th. Craig Hallum cut their price target on Lantronix from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.50.

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare purchased 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $3.66 per share, for a total transaction of $36,600.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $109,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Saleel Awsare purchased 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $3.66 per share, for a total transaction of $36,600.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $109,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Cohenour purchased 21,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $3.63 per share, for a total transaction of $76,230.00. Following the completion of the transaction, the director now owns 33,909 shares in the company, valued at approximately $123,089.67. The disclosure for this purchase can be found here. 17.30% of the stock is owned by company insiders.

Lantronix Company Profile

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.