Lantronix (NASDAQ:LTRX) Upgraded to “Buy” at ValuEngine

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ValuEngine upgraded shares of Lantronix (NASDAQ:LTRX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

LTRX stock opened at $3.40 on Tuesday. The company has a market capitalization of $77.11 million, a price-to-earnings ratio of 26.08 and a beta of 0.73. Lantronix has a fifty-two week low of $2.34 and a fifty-two week high of $6.47. The stock has a fifty day moving average of $3.50 and a 200-day moving average of $3.26.

Several hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC grew its stake in shares of Lantronix by 26.6% during the 2nd quarter. Essex Investment Management Co. LLC now owns 480,322 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 100,828 shares during the period. Cadence Capital Management LLC grew its stake in shares of Lantronix by 1.8% during the 1st quarter. Cadence Capital Management LLC now owns 477,348 shares of the technology company’s stock worth $1,442,000 after acquiring an additional 8,404 shares during the period. Acadian Asset Management LLC grew its stake in shares of Lantronix by 22.9% during the 1st quarter. Acadian Asset Management LLC now owns 240,860 shares of the technology company’s stock worth $727,000 after acquiring an additional 44,894 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Lantronix by 36.1% during the 4th 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 period. Finally, BlackRock Inc. grew its stake in shares of Lantronix by 6.3% during the 2nd quarter. BlackRock Inc. now owns 139,656 shares of the technology company’s stock worth $465,000 after acquiring an additional 8,238 shares during the period. Institutional investors own 17.88% of the company’s stock.

Lantronix Company Profile

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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