Cadence Capital Management LLC purchased a new stake in Lantronix Inc (NASDAQ:LTRX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 432,497 shares of the technology company’s stock, valued at approximately $1,760,000. Cadence Capital Management LLC owned 1.97% of Lantronix at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its stake in shares of Lantronix by 125.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 309,894 shares of the technology company’s stock valued at $1,261,000 after purchasing an additional 172,512 shares during the period. Acadian Asset Management LLC raised its stake in shares of Lantronix by 72.2% in the 3rd quarter. Acadian Asset Management LLC now owns 176,505 shares of the technology company’s stock valued at $719,000 after purchasing an additional 74,010 shares during the period. Perkins Capital Management Inc. acquired a new stake in shares of Lantronix in the 3rd quarter valued at about $509,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Lantronix in the 3rd quarter valued at about $468,000. 14.28% of the stock is currently owned by hedge funds and other institutional investors.
LTRX has been the subject of several analyst reports. Lake Street Capital restated a “buy” rating and issued a $6.00 price objective on shares of Lantronix in a report on Thursday, August 23rd. Needham & Company LLC initiated coverage on Lantronix in a report on Monday, October 8th. They issued a “buy” rating and a $5.50 price objective for the company. Finally, ValuEngine upgraded Lantronix from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd.
Shares of NASDAQ LTRX opened at $3.72 on Friday. The stock has a market capitalization of $82.49 million, a PE ratio of 31.25 and a beta of 0.64. Lantronix Inc has a fifty-two week low of $1.83 and a fifty-two week high of $6.47.
Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company had revenue of $12.28 million during the quarter. Lantronix had a return on equity of 8.48% and a net margin of 2.62%.
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Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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