JPMorgan Chase & Co. Sells 20,859 Shares of Lantronix, Inc. (NASDAQ:LTRX)

JPMorgan Chase & Co. lessened its stake in shares of Lantronix, Inc. (NASDAQ:LTRX) by 29.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,793 shares of the technology company’s stock after selling 20,859 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Lantronix worth $201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTRX. American Century Companies Inc. raised its holdings in shares of Lantronix by 27.6% in the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after purchasing an additional 5,693 shares during the period. Dimensional Fund Advisors LP increased its position in Lantronix by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after buying an additional 159,671 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Lantronix in the second quarter valued at $42,000. Marshall Wace LLP lifted its position in shares of Lantronix by 260.2% during the 2nd quarter. Marshall Wace LLP now owns 160,270 shares of the technology company’s stock valued at $569,000 after buying an additional 115,772 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Lantronix during the 2nd quarter worth $50,000. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Lantronix Trading Up 1.6 %

Shares of LTRX stock opened at $3.93 on Friday. The company has a market capitalization of $151.19 million, a PE ratio of -28.07 and a beta of 1.94. Lantronix, Inc. has a 52-week low of $2.48 and a 52-week high of $6.63. The business’s fifty day moving average is $3.64 and its 200 day moving average is $3.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.61.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.16). The business had revenue of $34.42 million during the quarter, compared to analysts’ expectations of $37.10 million. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. During the same period in the previous year, the business earned ($0.05) EPS. On average, equities research analysts anticipate that Lantronix, Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Lantronix

In related news, Director Hoshi Printer acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the director now owns 176,075 shares in the company, valued at approximately $510,617.50. This represents a 9.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Saleel Awsare bought 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, with a total value of $212,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 233,184 shares in the company, valued at $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Needham & Company LLC reissued a “buy” rating and issued a $5.50 price target on shares of Lantronix in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.50.

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.