Analysts are Increasing Price Targets of Tesla and 4 Other Stocks

3. Lantronix, Inc. (NASDAQ:LTRX)

Number of Hedge Fund Holders: 5   

On october 5, Lantronix, Inc. (NASDAQ:LTRX) had announced that it would be expanding connectivity services with site-to-site Virtual Private Network security. The services of the company are available in more than 180 countries around the world and the new security initiative will help customers with IoT-related data connectivity. The firm beat market expectations on earnings in the fourth fiscal quarter. 

On October 28, investment advisory Needham maintained a Buy rating on Lantronix, Inc. (NASDAQ:LTRX) stock and raised the price target to $13 from $7, touting the accelerating investment in industrial IoT. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in Lantronix, Inc. (NASDAQ:LTRX) with 691,864 shares worth more than $3.5 million.