It’s a relatively quiet day on Wall Street as all three indexes are close to break-even.
Among the stocks gaining ground on Monday are Lantronix Inc (NASDAQ:LTRX), Rovi Corporation (NASDAQ:ROVI), Cheetah Mobile Inc (ADR) (NYSE:CMCM), StemCells Inc (NASDAQ:STEM), and Momo Inc (ADR) (NASDAQ:MOMO). Let’s find out why traders are buying each stock and use the latest 13F data to see how the world’s best investors are positioned in them.
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Lantronix Spikes on Program
Nano-cap Lantronix Inc (NASDAQ:LTRX) is 20% in the green today after the company announced a new premier partner program for ITM resellers. The premier partner program provides discounts and incentives for resellers that might “aggressively expand access to our industry-leading SLC 8000 solution in the marketplace,” according to CEO Jeff Benck. Given the nano-cap nature of Lantronix Inc (NASDAQ:LTRX), only three funds out of the 749 funds in our system that filed 13F’s for the June 30 reporting period, held a stake in the company at that time. As with all nano-caps, investors should exercise due-diligence before buying or selling its shares.
Rovi Up on Agreement
Investors have bid up Rovi Corporation (NASDAQ:ROVI) shares to the tune of 7% today after Rovi signed a 10-year patent renewal license agreement with a subsidiary of DISH Network Corp (NASDAQ:DISH). The renewal validates the long-term value of Rovi’s IP portfolio with traditional and next-generation pay-TV providers and provides Rovi Corporation (NASDAQ:ROVI) with more predictable cash flow for future years. The number of funds in our database with stakes in Rovi inched lower by two quarter-over-quarter to 22 at the end of June.
On the next page we’ll examine why Cheetah Mobile, StemCells, and Momo Inc are trading in the green today.