Balyasny Asset Management L.P. Purchases New Position in Lantronix, Inc. (NASDAQ:LTRX)

Balyasny Asset Management L.P. acquired a new position in Lantronix, Inc. (NASDAQ:LTRX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,163 shares of the technology company’s stock, valued at approximately $79,000.

Several other hedge funds have also modified their holdings of LTRX. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lantronix by 3.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company’s stock valued at $1,171,000 after purchasing an additional 8,992 shares in the last quarter. Algert Global LLC lifted its position in Lantronix by 49.5% during the fourth quarter. Algert Global LLC now owns 27,728 shares of the technology company’s stock valued at $114,000 after purchasing an additional 9,180 shares during the last quarter. Amundi purchased a new position in shares of Lantronix in the 4th quarter worth $42,000. American Century Companies Inc. increased its holdings in shares of Lantronix by 43.9% in the 4th quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock worth $181,000 after buying an additional 13,402 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Lantronix by 5.7% during the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company’s stock valued at $1,137,000 after buying an additional 14,802 shares in the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.

Lantronix Trading Down 1.3%

NASDAQ LTRX opened at $2.31 on Tuesday. The stock has a market cap of $89.84 million, a PE ratio of -17.77 and a beta of 1.49. Lantronix, Inc. has a 12 month low of $1.91 and a 12 month high of $4.55. The company’s 50-day moving average price is $2.28 and its 200-day moving average price is $2.98. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

LTRX has been the subject of several recent research reports. Canaccord Genuity Group dropped their price target on Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Needham & Company LLC dropped their target price on Lantronix from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, May 12th. Lake Street Capital decreased their price target on Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, StockNews.com lowered shares of Lantronix from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.13.

Insiders Place Their Bets

In other news, Director Hoshi Printer acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $2.70 per share, for a total transaction of $40,500.00. Following the completion of the acquisition, the director now directly owns 191,425 shares of the company’s stock, valued at $516,847.50. The trade was a 8.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Saleel Awsare acquired 15,011 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average cost of $2.11 per share, with a total value of $31,673.21. Following the completion of the purchase, the chief executive officer now owns 268,391 shares of the company’s stock, valued at $566,305.01. This trade represents a 5.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 80,011 shares of company stock worth $195,373 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Lantronix 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.