Lantronix, Inc. (NASDAQ:LTRX) Stock Position Decreased by Millennium Management LLC

Millennium Management LLC decreased its holdings in Lantronix, Inc. (NASDAQ:LTRX - Free Report) by 83.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm 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 and other institutional investors have also recently bought and sold shares of LTRX. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 18,996 shares in the last quarter. Amundi purchased a new stake in shares of Lantronix during the 4th quarter valued at about $42,000. Truffle Hound Capital LLC acquired a new position in Lantronix during the 4th quarter worth approximately $4,120,000. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 13,402 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Lantronix in the 4th quarter worth approximately $444,000. 39.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Saleel Awsare bought 15,011 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of $2.11 per share, with a total value of $31,673.21. Following the transaction, the chief executive officer now owns 268,391 shares of the company's stock, valued at approximately $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 can be accessed through this link. Over the last quarter, insiders purchased 40,011 shares of company stock worth $88,523. Insiders own 1.60% of the company's stock.

Lantronix Stock Down 4.9%

Shares of LTRX traded down $0.12 during trading on Friday, reaching $2.34. The company's stock had a trading volume of 227,589 shares, compared to its average volume of 320,285. The company has a market cap of $91.00 million, a price-to-earnings ratio of -18.00 and a beta of 1.44. 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 moving average of $2.19 and a two-hundred day moving average of $2.89. Lantronix, Inc. has a twelve month low of $1.91 and a twelve month high of $4.55.

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.