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

Millennium Management LLC cut its stake in Lantronix, Inc. (NASDAQ:LTRX - Free Report) by 83.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,352 shares of the technology company's stock after selling 239,229 shares during the period. Millennium Management LLC owned approximately 0.13% of Lantronix worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Lantronix by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,323,971 shares of the technology company's stock valued at $5,455,000 after purchasing an additional 186,479 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Lantronix in the fourth quarter valued at approximately $79,000. Amundi acquired a new stake in shares of Lantronix in the fourth quarter valued at approximately $42,000. Ameriprise Financial Inc. grew its position in shares of Lantronix by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company's stock valued at $1,137,000 after purchasing an additional 14,802 shares during the last quarter. Finally, Truffle Hound Capital LLC acquired a new stake in Lantronix during the fourth quarter worth approximately $4,120,000. 39.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LTRX shares. Canaccord Genuity Group decreased their target price on shares of Lantronix from $4.50 to $3.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Lake Street Capital decreased their target price on shares of Lantronix from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered shares of Lantronix from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC decreased their target price on shares of Lantronix from $5.50 to $4.50 and set a "buy" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.13.

Insider Buying and Selling at Lantronix

In related news, CEO Saleel Awsare purchased 15,011 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $2.11 per share, for a total transaction of $31,673.21. Following the acquisition, the chief executive officer now directly owns 268,391 shares in the company, valued at $566,305.01. This trade represents a 5.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 40,011 shares of company stock worth $88,523 in the last quarter. 1.60% of the stock is owned by insiders.

Lantronix Trading Up 5.6%

Shares of LTRX traded up $0.13 during mid-day trading on Monday, reaching $2.47. The company had a trading volume of 227,083 shares, compared to its average volume of 321,110. The stock has a market cap of $96.06 million, a price-to-earnings ratio of -19.00 and a beta of 1.44. The firm has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $2.88. Lantronix, Inc. has a fifty-two week low of $1.91 and a fifty-two week high of $4.55. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15.

About Lantronix

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.