First Eagle Investment Management LLC Trims Position in Lantronix, Inc. (NASDAQ:LTRX)

First Eagle Investment Management LLC cut its stake in Lantronix, Inc. (NASDAQ:LTRX - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 670,974 shares of the technology company's stock after selling 277,460 shares during the quarter. First Eagle Investment Management LLC owned about 1.74% of Lantronix worth $2,764,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LTRX. Amundi purchased a new position in shares of Lantronix in the fourth quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lantronix in the third quarter valued at $60,000. Bank of New York Mellon Corp grew its position in shares of Lantronix by 84.4% in the fourth quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company's stock valued at $171,000 after purchasing an additional 18,996 shares in the last quarter. Barclays PLC grew its position in shares of Lantronix by 235.9% in the third quarter. Barclays PLC now owns 62,321 shares of the technology company's stock valued at $257,000 after purchasing an additional 43,770 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of Lantronix by 61.9% in the third quarter. Walleye Capital LLC now owns 71,467 shares of the technology company's stock valued at $294,000 after purchasing an additional 27,325 shares in the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LTRX shares. Lake Street Capital reduced their price target on Lantronix from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and set a $5.50 price objective on shares of Lantronix in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group dropped their price objective on Lantronix from $5.00 to $4.50 and set a "buy" rating for the company in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lantronix has a consensus rating of "Buy" and a consensus target price of $6.00.

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Insider Buying and Selling

In other Lantronix news, Director Hoshi Printer purchased 15,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $2.70 per share, with a total value of $40,500.00. Following the completion of the purchase, the director now directly owns 191,425 shares of the company's stock, valued at approximately $516,847.50. This trade represents a 8.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin S. Palatnik acquired 20,000 shares of Lantronix stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $2.54 per share, for a total transaction of $50,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company's stock, valued at approximately $50,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 50,000 shares of company stock worth $129,250 in the last quarter. 1.60% of the stock is owned by insiders.

Lantronix Price Performance

Shares of Lantronix stock traded down $0.05 on Thursday, hitting $2.76. 146,997 shares of the company traded hands, compared to its average volume of 329,717. Lantronix, Inc. has a 12-month low of $2.49 and a 12-month high of $4.55. The firm's 50-day simple moving average is $3.26 and its 200 day simple moving average is $3.53. The company has a market cap of $107.06 million, a P/E ratio of -21.23 and a beta of 2.00. The company has a current ratio of 2.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.15.

Lantronix (NASDAQ:LTRX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. Analysts expect that Lantronix, Inc. will post -0.23 earnings per share for the current fiscal year.

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.