Renaissance Technologies LLC Acquires 152,400 Shares of Lantronix, Inc. (NASDAQ:LTRX)

Renaissance Technologies LLC lifted its holdings in shares of Lantronix, Inc. (NASDAQ:LTRX) by 30.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 654,494 shares of the technology company’s stock after buying an additional 152,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Lantronix were worth $2,323,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LTRX. Wasatch Advisors LP grew its stake in shares of Lantronix by 11.4% during the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after buying an additional 165,711 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lantronix by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after acquiring an additional 131,476 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lantronix by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after acquiring an additional 159,671 shares during the period. Herald Investment Management Ltd grew its position in Lantronix by 17.6% during the 2nd quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after acquiring an additional 150,000 shares during the last quarter. Finally, AWM Investment Company Inc. increased its stake in Lantronix by 29.8% in the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after purchasing an additional 227,374 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Lantronix Stock Performance

Shares of LTRX stock opened at $4.01 on Wednesday. The firm has a market capitalization of $150.70 million, a price-to-earnings ratio of -22.28 and a beta of 2.12. The stock has a fifty day moving average of $3.78 and a 200 day moving average of $3.67. Lantronix, Inc. has a 52 week low of $3.08 and a 52 week high of $6.95. The company has a quick ratio of 2.03, a current ratio of 2.95 and a debt-to-equity ratio of 0.16.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. Lantronix had a negative net margin of 2.82% and a negative return on equity of 2.14%. As a group, research analysts expect that Lantronix, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $4.00, for a total transaction of $33,740.00. Following the transaction, the insider now owns 5,373,036 shares in the company, valued at approximately $21,492,144. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 89,014 shares of company stock worth $371,386 over the last three months. Company insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LTRX shares. Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of Lantronix in a report on Monday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Lantronix in a research report on Friday, September 6th. StockNews.com upgraded shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group began coverage on shares of Lantronix in a research note on Wednesday, September 11th. They set a “buy” rating and a $7.50 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $7.30.

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.