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By Market News Video Staff, Tuesday, November 22, 12:15 PM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Lantronix Inc. (NASDAQ:LTRX), 3 different insiders purchased 21,960 shares at an average price of $1.51/share, for a total of $33,146, with the most recent purchase on November 17, 2011.
Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
11/15/2011
Howard T Slayen
Director
2,000
$1.31
$2,613.20
11/17/2011
Kurt Busch
President and CEO
9,960
$1.48
$14,740.80
11/17/2011
Jeremy Whitaker
CFO and Secretary
10,000
$1.58
$15,792.00
The chart below shows the one year performance of LTRX shares, versus its 200 day moving average. Note that LTRX's low point in its 52 week range is $1.15 per share, with $4.09 as the 52 week high point — that compares with a last trade of $1.82, with shares currently trading up about 4% on the day.
LTRX operates in the Computer Peripherals sector, among companies like Extreme Networks, Inc. (NASDAQ:EXTR) which is down about 0.7% today, and Intermec Inc (NYSE:IN) trading lower by about 1.1%. Below is a three month price history chart comparing the stock performance of LTRX, versus EXTR and IN.
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