10 Best AI Stocks to Buy According to Reddit

7. Lantronix Inc. (NASDAQ:LTRX)

Number of Hedge Fund Holders: 14

Lantronix Inc. (NASDAQ:LTRX) specializes in providing connectivity solutions that are tailored for the Internet of Things (IoT) and Remote Environment Management (REM). It offers products and services like Software as a Service (SaaS), intelligent hardware, and engineering services. It’s focused on integrating AI and edge computing into its offerings, enabling advanced applications like video collaboration and machine learning.

In October, the company announced the introduction of 5 new System-in-Package (SiP) solutions powered by Qualcomm Technologies, for accelerating AI-driven applications. These SiPs are designed to bring advanced AI and ML capabilities to the edge, targeting industrial and enterprise applications, offering features like high-performance AI and ML processing, robust and scalable computing, advanced connectivity options, and secure and reliable operation. The IQ9 series, for example, is designed for applications like robotics and automation, while the Open-Q series is ideal for video surveillance and other AI-powered devices.

By providing these powerful SiP solutions, Lantronix Inc. (NASDAQ:LTRX) aims to accelerate the development of AI-driven applications at the edge, enabling businesses to improve efficiency and gain valuable insights from data.

180 Degree Capital Corp stated the following regarding Lantronix, Inc. (NASDAQ:LTRX) in its Q2 2024 investor letter:

“More recently, we have been working behind the scenes with the management and board of Lantronix, Inc. (NASDAQ:LTRX) on ways to solidify the strong foundation of the company and set it up for success and significant value creation for stockholders in the future. We believe LTRX’s new CEO, Saleel Awsare brings an interesting and successful background to LTRX. What we believe he needed to be in the best position for success were board members who have experience navigating the challenges unique to microcapitalization companies. Following multiple discussions, we introduced Saleel and his board to Narbeh Derhacobian, the former Chief Executive Officer and founder of our former portfolio company, Adesto Technologies, Inc., and one of Adesto’s board members, Kevin Palatnik, who has significant experience as a CFO at multiple related businesses. We were pleased to see that LTRX’s board saw the same value that we do in these individuals, in terms of helping Saleel and his team to have the best opportunities to achieve multiple catalysts that could lead to material increases in value for LTRX and its stockholders.”