Lantronix (NASDAQ:LTRX) Lowered to “Hold” at ValuEngine

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ValuEngine cut shares of Lantronix (NASDAQ:LTRX) from a buy rating to a hold rating in a research note released on Saturday, ValuEngine reports.

Shares of LTRX stock opened at $3.56 on Friday. Lantronix has a 12-month low of $2.34 and a 12-month high of $6.47. The company has a market cap of $79.57 million, a P/E ratio of 27.77 and a beta of 0.73. The company’s 50-day moving average price is $3.48.

In related news, Director Paul F. Folino sold 32,780 shares of Lantronix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $3.40, for a total transaction of $111,452.00. Following the completion of the transaction, the director now directly owns 68,083 shares of the company’s stock, valued at approximately $231,482.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 43.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new position in Lantronix during the 2nd quarter valued at about $33,000. Alambic Investment Management L.P. raised its stake in shares of Lantronix by 37.2% in the first quarter. Alambic Investment Management L.P. now owns 18,163 shares of the technology company’s stock worth $55,000 after acquiring an additional 4,923 shares during the last quarter. LPL Financial LLC bought a new position in shares of Lantronix in the second quarter worth about $266,000. BlackRock Inc. raised its stake in shares of Lantronix by 7.7% in the fourth quarter. BlackRock Inc. now owns 133,221 shares of the technology company’s stock worth $391,000 after acquiring an additional 9,537 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Lantronix by 36.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 187,973 shares of the technology company’s stock worth $553,000 after acquiring an additional 49,868 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

About Lantronix

Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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