Heartland Advisors Inc. Purchases Shares of 1,400,000 Lantronix, Inc. (NASDAQ:LTRX)

Key Points

• Heartland Advisors Inc. has acquired a new stake in Lantronix, Inc., totaling 1.4 million shares valued at approximately $3.5 million, representing a 3.61% ownership as per their latest SEC filing.
• Several institutional investors, including Balyasny Asset Management and Bank of New York Mellon Corp, have also increased their holdings in Lantronix during the fourth quarter.
• Recent analyst reports have lowered price targets for Lantronix from as high as $5.50 to $3.00, while some ratings have shifted from "buy" to "hold."

Heartland Advisors Inc. acquired a new position in shares of Lantronix, Inc. (NASDAQ:LTRX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,400,000 shares of the technology company's stock, valued at approximately $3,486,000. Heartland Advisors Inc. owned about 3.61% of Lantronix as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in Lantronix during the fourth quarter worth $79,000. Wolverine Trading LLC acquired a new position in Lantronix during the fourth quarter worth $95,000. Algert Global LLC increased 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 worth $114,000 after buying an additional 9,180 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in Lantronix during the fourth quarter worth $166,000. Finally, Bank of New York Mellon Corp increased its position in Lantronix by 84.4% during the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company's stock worth $171,000 after buying an additional 18,996 shares in the last quarter. 39.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lantronix

In other Lantronix news, CEO Saleel Awsare acquired 15,011 shares of the stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average price of $2.11 per share, with a total value of $31,673.21. Following the completion of the transaction, the chief executive officer directly owned 268,391 shares in the company, valued at approximately $566,305.01. This trade represents a 5.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 40,011 shares of company stock valued at $88,523 over the last ninety days. 1.60% of the stock is owned by insiders.

Lantronix Trading Down 0.9%

Shares of NASDAQ:LTRX traded down $0.03 during midday trading on Wednesday, reaching $3.19. The company's stock had a trading volume of 50,097 shares, compared to its average volume of 308,775. The firm has a market cap of $124.06 million, a price-to-earnings ratio of -14.50 and a beta of 1.51. The company has a quick ratio of 1.69, a current ratio of 2.68 and a debt-to-equity ratio of 0.13. Lantronix, Inc. has a 1 year low of $1.91 and a 1 year high of $4.55. The business has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.72.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LTRX. Needham & Company LLC dropped their price target on Lantronix from $5.50 to $4.50 and set a "buy" rating for the company in a research report on Monday, May 12th. Lake Street Capital dropped their price target on Lantronix from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wall Street Zen downgraded Lantronix from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, 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.

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.