First Eagle Investment Management LLC Increases Stake in Lantronix, Inc. (NASDAQ:LTRX)

First Eagle Investment Management LLC grew its stake in shares of Lantronix, Inc. (NASDAQ:LTRX) by 65.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 855,234 shares of the technology company’s stock after purchasing an additional 336,781 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.28% of Lantronix worth $3,036,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Lantronix during the 1st quarter valued at about $55,000. American Century Companies Inc. boosted its position in Lantronix by 27.6% during the 2nd 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 in the last quarter. Jump Financial LLC grew its holdings 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 acquiring an additional 17,138 shares during the period. Heron Bay Capital Management purchased a new position in shares of Lantronix during the 1st quarter worth approximately $226,000. Finally, Acadian Asset Management LLC bought a new position in shares of Lantronix in the 1st quarter worth approximately $369,000. 39.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Bernhard Bruscha sold 8,435 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total transaction of $33,740.00. Following the completion of the sale, the insider now owns 5,373,036 shares of the company’s stock, valued at $21,492,144. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 64,014 shares of company stock valued at $267,136. Insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LTRX. Canaccord Genuity Group initiated coverage on Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Lantronix in a research note on Friday, September 6th. Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research note on Monday, June 17th. Finally, StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.30.

Lantronix Stock Performance

Shares of Lantronix stock opened at $3.83 on Friday. Lantronix, Inc. has a 1 year low of $3.08 and a 1 year high of $6.95. The firm’s 50-day moving average is $3.77 and its 200 day moving average is $3.66. The stock has a market cap of $143.93 million, a price-to-earnings ratio of -21.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.95 and a quick ratio of 1.32.

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.