King Luther Capital Management Corp Sells 190,000 Shares of Lantronix, Inc. (NASDAQ:LTRX)

King Luther Capital Management Corp cut its holdings in shares of Lantronix, Inc. (NASDAQ:LTRX) by 35.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,000 shares of the technology company’s stock after selling 190,000 shares during the quarter. King Luther Capital Management Corp owned approximately 0.93% of Lantronix worth $1,242,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LTRX. American Century Companies Inc. increased its position in shares of Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after acquiring an additional 5,693 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Lantronix by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 404,158 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 6,171 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lantronix during the 1st quarter worth approximately $55,000. Jump Financial LLC raised its stake in shares of Lantronix by 115.4% during the 4th quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after purchasing an additional 17,138 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of Lantronix in the 1st quarter valued at approximately $226,000. 39.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LTRX. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 10th. Canaccord Genuity Group started coverage on shares of Lantronix in a report on Wednesday, September 11th. They issued a “buy” rating and a $7.50 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $9.00 price target on shares of Lantronix in a report on Monday, June 17th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lantronix currently has a consensus rating of “Buy” and an average price target of $7.30.

Lantronix Stock Down 2.8 %

Shares of LTRX opened at $3.83 on Monday. Lantronix, Inc. has a 52 week low of $3.08 and a 52 week high of $6.95. The firm’s 50-day simple moving average is $3.77 and its 200 day simple moving average is $3.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.32 and a current ratio of 2.95. The firm has a market cap of $143.93 million, a P/E ratio of -21.28 and a beta of 2.12.

Insider Buying and Selling at Lantronix

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of Lantronix stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total value of $136,641.60. Following the completion of the sale, the insider now directly owns 5,293,503 shares in the company, valued at $22,867,932.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 64,014 shares of company stock valued at $267,136 in the last quarter. Company insiders own 17.30% of the company’s stock.

Lantronix Profile

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.