Scoggin Management LP Trims Stock Holdings in Lantronix, Inc. $LTRX

Scoggin Management LP trimmed its position in Lantronix, Inc. (NASDAQ:LTRX) by 20.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 500,000 shares of the technology company’s stock after selling 125,000 shares during the period. Scoggin Management LP’s holdings in Lantronix were worth $1,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LTRX. Heartland Advisors Inc. purchased a new stake in Lantronix in the first quarter worth $3,486,000. AMH Equity Ltd purchased a new stake in Lantronix in the first quarter worth $500,000. Dimensional Fund Advisors LP grew its stake in Lantronix by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,323,971 shares of the technology company’s stock worth $5,455,000 after purchasing an additional 186,479 shares during the period. Jefferies Financial Group Inc. grew its stake in Lantronix by 153.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 82,500 shares of the technology company’s stock worth $340,000 after purchasing an additional 50,000 shares during the period. Finally, Barclays PLC grew its stake in Lantronix by 66.3% in the fourth quarter. Barclays PLC now owns 103,652 shares of the technology company’s stock worth $427,000 after purchasing an additional 41,331 shares during the period. 39.38% of the stock is owned by hedge funds and other institutional investors.

Lantronix Trading Up 6.9%

Lantronix stock opened at $4.97 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.68 and a quick ratio of 1.69. Lantronix, Inc. has a one year low of $1.91 and a one year high of $4.98. The stock has a market capitalization of $193.28 million, a PE ratio of -16.57 and a beta of 1.43. The business’s fifty day moving average is $3.17 and its 200 day moving average is $2.67.

Analysts Set New Price Targets

LTRX has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on Lantronix from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Needham & Company LLC reissued a “buy” rating and issued a $4.50 target price on shares of Lantronix in a research note on Thursday. Wall Street Zen cut Lantronix from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Lake Street Capital increased their target price on Lantronix from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $4.17.

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.