Essex Investment Management Co. LLC Has $1.26 Million Position in Lantronix Inc (NASDAQ:LTRX)
Essex Investment Management Co. LLC grew its stake in shares of Lantronix Inc (NASDAQ:LTRX) by 125.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 309,894 shares of the technology company’s stock after purchasing an additional 172,512 shares during the period. Essex Investment Management Co. LLC owned about 1.61% of Lantronix worth $1,261,000 as of its most recent filing with the SEC.
Separately, Acadian Asset Management LLC bought a new position in shares of Lantronix in the second quarter worth $291,000. 14.28% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on LTRX. Lake Street Capital reissued a “buy” rating and issued a $6.00 target price on shares of Lantronix in a research note on Thursday, August 23rd. Needham & Company LLC started coverage on shares of Lantronix in a report on Monday, October 8th. They set a “buy” rating and a $5.50 target price for the company. Finally, ValuEngine upgraded shares of Lantronix from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd.
Lantronix (NASDAQ:LTRX) last announced its earnings results on Thursday, October 25th. The technology company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Lantronix had a net margin of 2.62% and a return on equity of 8.48%. The business had revenue of $12.28 million during the quarter.
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Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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