Sailesh Chittipeddi Acquires 10,000 Shares of Lantronix, Inc. (NASDAQ:LTRX) Stock

Lantronix, Inc. (NASDAQ:LTRX) Director Sailesh Chittipeddi purchased 10,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of $2.24 per share, with a total value of $22,400.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $22,400. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lantronix Stock Performance

NASDAQ:LTRX opened at $2.17 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.15. Lantronix, Inc. has a twelve month low of $1.91 and a twelve month high of $4.55. The company has a fifty day moving average of $2.25 and a 200-day moving average of $2.95. The firm has a market capitalization of $84.39 million, a P/E ratio of -16.69 and a beta of 1.49.

Institutional Investors Weigh In On Lantronix

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of Lantronix by 84.4% during the 4th 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 bought a new position in Lantronix in the fourth quarter worth approximately $42,000. Truffle Hound Capital LLC acquired a new stake in Lantronix in the fourth quarter valued at approximately $4,120,000. American Century Companies Inc. increased its holdings in shares of Lantronix by 43.9% during the fourth quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock valued at $181,000 after acquiring an additional 13,402 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Lantronix during the fourth quarter worth approximately $444,000. 39.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. 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 cut their price target on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, May 12th. Canaccord Genuity Group lowered their price objective on Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, Lake Street Capital cut their target price on Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Lantronix has a consensus rating of “Moderate Buy” and an average price target of $5.13.

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.