Millennium Management LLC Cuts Stake in Lantronix, Inc. (NASDAQ:LTRX)

Millennium Management LLC reduced its stake in shares of Lantronix, Inc. (NASDAQ:LTRX) by 83.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 48,352 shares of the technology company’s stock after selling 239,229 shares during the period. Millennium Management LLC’s holdings in Lantronix were worth $199,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LTRX. Bank of New York Mellon Corp grew its holdings in Lantronix by 84.4% during the 4th quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock valued at $171,000 after buying an additional 18,996 shares in the last quarter. Amundi purchased a new stake in Lantronix during the 4th quarter valued at approximately $42,000. Truffle Hound Capital LLC purchased a new stake in Lantronix during the 4th quarter valued at approximately $4,120,000. American Century Companies Inc. grew its holdings in Lantronix by 43.9% during the 4th quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock valued at $181,000 after buying an additional 13,402 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Lantronix in the fourth quarter valued at $444,000. 39.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare bought 15,011 shares of Lantronix stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price 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 in the company, valued at $566,305.01. The trade was a 5.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired 40,011 shares of company stock worth $88,523 over the last 90 days. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LTRX. Lake Street Capital decreased their price target on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Needham & Company LLC lowered their price objective on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, May 12th. Wall Street Zen lowered shares of Lantronix from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Finally, Canaccord Genuity Group lowered their price objective on shares of Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.13.

Lantronix Price Performance

LTRX stock opened at $2.46 on Friday. Lantronix, Inc. has a 52 week low of $1.91 and a 52 week high of $4.55. The company has a quick ratio of 1.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $2.89. The firm has a market capitalization of $95.67 million, a P/E ratio of -18.92 and a beta of 1.44.

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.