Truffle Hound Capital LLC Sells 239,445 Shares of Lantronix, Inc. (NASDAQ:LTRX)

Key Points

• Truffle Hound Capital LLC reduced its stake in Lantronix, Inc. by 23.9% during Q1 2023, owning 760,555 shares valued at approximately $1.89 million after selling 239,445 shares.
• CEO Saleel Awsare bought 15,011 shares at $2.11 each, increasing his ownership by 5.92% to approximately $566,305.
• Analysts have recently lowered their price targets for Lantronix shares, with estimates now ranging from $3.00 to $4.50 while maintaining a "buy" rating from several firms.

Truffle Hound Capital LLC cut its stake in shares of Lantronix, Inc. (NASDAQ:LTRX - Free Report) by 23.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 760,555 shares of the technology company's stock after selling 239,445 shares during the period. Truffle Hound Capital LLC owned 1.96% of Lantronix worth $1,894,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Heartland Advisors Inc. acquired a new stake in shares of Lantronix in the first quarter valued at approximately $3,486,000. Dimensional Fund Advisors LP lifted its holdings in Lantronix by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,323,971 shares of the technology company's stock worth $5,455,000 after purchasing an additional 186,479 shares during the last quarter. Marshall Wace LLP lifted its holdings in Lantronix by 16.5% during the 4th quarter. Marshall Wace LLP now owns 483,868 shares of the technology company's stock worth $1,994,000 after purchasing an additional 68,669 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Lantronix by 3.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company's stock worth $1,171,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Lantronix by 5.7% during the 4th quarter. Ameriprise Financial Inc. now owns 275,985 shares of the technology company's stock worth $1,137,000 after purchasing an additional 14,802 shares during the last quarter. 39.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LTRX has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Lantronix from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Needham & Company LLC lowered their price target on 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 reduced their price objective on Lantronix from $4.50 to $3.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Lake Street Capital decreased their target price on Lantronix from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Lantronix Stock Down 2.8%

LTRX traded down $0.09 during trading on Wednesday, hitting $2.95. 109,270 shares of the company's stock were exchanged, compared to its average volume of 305,647. The company has a quick ratio of 1.69, a current ratio of 2.68 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $2.79 and its two-hundred day moving average is $2.71. Lantronix, Inc. has a fifty-two week low of $1.91 and a fifty-two week high of $4.55. The stock has a market cap of $114.53 million, a P/E ratio of -13.36 and a beta of 1.52.

Insiders Place Their Bets

In other Lantronix news, CEO Saleel Awsare acquired 15,011 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $2.11 per share, for a total transaction of $31,673.21. Following the completion of the acquisition, the chief executive officer owned 268,391 shares in the company, valued at approximately $566,305.01. This represents a 5.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 40,011 shares of company stock worth $88,523 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

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.