Goldman Sachs Group Inc. Reduces Position in Lantronix, Inc. $LTRX

Goldman Sachs Group Inc. lowered its position in shares of Lantronix, Inc. (NASDAQ:LTRX) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,575 shares of the technology company’s stock after selling 10,499 shares during the period. Goldman Sachs Group Inc. owned about 0.09% of Lantronix worth $89,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Lantronix by 23.6% during the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company’s stock valued at $135,000 after buying an additional 10,381 shares during the period. Jane Street Group LLC boosted its holdings in shares of Lantronix by 19.7% during the first quarter. Jane Street Group LLC now owns 71,293 shares of the technology company’s stock worth $178,000 after purchasing an additional 11,728 shares during the period. AMH Equity Ltd purchased a new stake in shares of Lantronix during the first quarter worth about $500,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of Lantronix during the first quarter worth about $3,486,000. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Lantronix Stock Up 1.8%

Shares of NASDAQ:LTRX opened at $4.57 on Wednesday. The stock has a fifty day simple moving average of $3.91 and a two-hundred day simple moving average of $2.96. The stock has a market capitalization of $179.46 million, a price-to-earnings ratio of -15.23 and a beta of 1.44. Lantronix, Inc. has a 12-month low of $1.91 and a 12-month high of $5.06. The company has a current ratio of 2.54, a quick ratio of 1.68 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Lake Street Capital increased their price objective on Lantronix from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Needham & Company LLC raised their price target on Lantronix from $4.50 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $4.50.

Insider Activity

In other Lantronix news, major shareholder Bernhard Bruscha sold 12,993 shares of Lantronix stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $4.64, for a total value of $60,287.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Lantronix Company 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.